Abstract: The effect of the electric field on an exciton confined in a pair of vertically coupled quantum dots is studied. We use a single-band approximation and a parabolic model potential. As a result of these idealizations, we obtain a numerically solvable model, which is used to describe the influence of the electron-hole interaction on the Stark effect for the lowest-energy photo luminescence lines. We show that for intermediate tunnel coupling between the dots this interaction leads to an anomalous Stark effect with an essential deviation of the recombination energy from the usual quadratic dependence on the electric field. (c) 2004 Elsevier B.V. All rights reserved.