Sec Form 4 Filing - PICCARD LUANN @ ADVANCED ENERGY INDUSTRIES INC - 2004-10-19

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person PICCARD LUANN 2. Issuer Name and Ticker or Trading Symbol ADVANCED ENERGY INDUSTRIES INC [ AEIS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) SVP Operations&ProcessExcellen (Last) (First) (Middle) 1625 SHARP POINT DRIVE 3. Date of Earliest Transaction (MM/DD/YY) 10/19/2004 (Street) FORT COLLINS, COUS 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Employee Stock Option (right to buy) $ 19.24 07/23/2004( 1 ) 07/23/2013 Common Stock 50,000 50,000 D Employee Stock Option (right to buy) $ 22.3 02/11/2005( 1 ) 02/11/2014 Common Stock 3,750 53,750 D Employee Stock Option (right to buy) $ 20.81 04/14/2005( 1 ) 04/14/2014 Common Stock 3,750 57,500 D Employee Stock Option (right to buy) $ 12.8 07/20/2005( 1 ) 07/20/2014 Common Stock 3,750 61,250 D Employee Stock Option (right to buy) $ 9.97 08/26/2005( 1 ) 08/26/2014 Common Stock 50,000 111,250 D Employee Stock Option (right to buy) $ 10.37 10/19/2004 A 3,750 10/19/2005( 1 ) 10/19/2014 Common Stock 3,750 $ 10.37 115,000 ( 2 ) D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other PICCARD LUANN 1625 SHARP POINT DRIVE FORT COLLINS, COUS SVP Operations&ProcessExcellen Signatures Michael El-Hillow - Attorney-in-Fact 10/19/2004 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Stock options dated 07/23/2003, 02/11/2004, 04/14/2004, 07/20/2004, 08/26/04, and 10/19/2004 are such that 1/4 of the shares become exercisable on the first anniversary following the date of grant, and the remaining shares become exercisable in equal increments each quarter for 3 years thereafter. ( 2 )Ms. Piccard has Employee Stock Options (right to buy) for a total of 115,000 shares of Common Stock.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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