There is much recent interest on the nature of the oscillations in the
cataclysmic variable AE Aquarii. Detected in the optical, UV, X-ray,
and possibly gamma-ray bands, the origin of these 33 s oscillations re
mains poorly understood. Recent work by Robinson, Shafter, and Balacha
ndran revealed a very puzzling result: the oscillation time-delay curv
e is phase shifted by approximately 60-degrees with respect to the emi
ssion-line radial velocity curve, although both should track the orbit
al motion of the white dwarf. In this Letter we present simultaneous a
bsorption and emission-line radial velocities, and from the absorption
lines we derive an improved ephemeris. We find that our emission-line
velocities are phase shifted by approximately 75-degrees, and hence a
re unreliable tracers of the orbital motion of the white dwarf. Howeve
r, the oscillation orbit is shifted by only 5-degrees +/- 3-degrees, c
onfirming that the oscillations arise from a region concentric with th
e white dwarf. Thus the arrival times of the oscillations yield a meas
ure of the white dwarfs apparent orbital velocity, independent of emis
sion-line radial velocity measurements. Using RSB's value of K(pulse)
as K1 we find q = M2/M1 = 0.773 +/- 0.026 and M1 sin3 i = 0.528 +/- 0.
017 M., giving masses 0.64 < M1/M. less-than-or-equal-to 0.91, 0.49 <
M2/M. less-than-or-equal-to 0.70, and 56-degrees less-than-or-equal-to
i < 70-degrees.