Acqn., Placing & Open Offer

JETCAM INTERNATIONAL HOLDINGS LIMITED
30 September 1999


              JETCAM INTERNATIONAL HOLDINGS LIMITED
                   ('JETCAM' or 'the Company')
                                
             Proposed Acquisition of Camtek Limited
                                
     Placing and Open Offer of 3,280,260 new Ordinary Shares
                        at 90p per share

JETCAM   develops  and  markets  software  systems  for  computer
programming of punching and cutting machines used in sheet  metal
fabrication.  JETCAM, which listed on the Alternative  Investment
Market ('AIM') in April 1999, announces the acquisition of Camtek
Limited  ('Camtek')  for  £4  million.   Camtek,  a  UK  company,
develops  and markets CAM software systems for computer numerical
control  programming  of  machines  in  the  metal  cutting   and
fabrication industry.

*    Acquisition of Camtek for a consideration of £4 million,  of
     which  £2.5  million  is to be satisfied  in  cash  and  the
     balance by the issue of 1,666,667 new ordinary shares  at  a
     price of 90p

*    Placing  and open offer of 3,280,260 new ordinary shares  at
     90p per share to raise £2.65 million, net of expenses

*    Camtek reported a profit before tax and exceptional items of
     £421,000 for the year ended 30 September 1998 and will  have
     estimated  net  assets  of £720,000  at  completion  of  the
     acquisition.

*    The  vendors  of Camtek have warranted that Camtek's  profit
     before  tax  for  the current year ending 30 September  1999
     will be not less than £531,000

*    Geoffrey  Hawkesford, co-founder of Camtek,  will  join  the
     Board  of  JETCAM as an Executive Director with effect  from
     completion  of  the acquisition, which is expected  to  take
     place  following the Special General Meeting  of  JETCAM  on
     26th October 1999

*    Acquisition  of Camtek substantially increases the  size  of
     JETCAM   and  the  integration  of  the  two  companies   UK
     operations  should  enhance the group's market  profile  and
     give the opportunity for cost savings and accelerated profit
     development.

*    Encouraging outlook for the enlarged Group

Ivan  Stern,  Chief  Executive and  Deputy  Chairman  of  JETCAM,
commented:

'When  we  listed on AIM earlier this year, we were confident  of
our  ability  to  make  acquisitions in  this  highly  fragmented
sector.   Camtek represents a fantastic opportunity,  effectively
doubling  the size of JETCAM with little cross-over in  terms  of
customer base.

'We  are  extremely  excited at the opportunities  that  are  now
available to the enlarged group.  Moreover, this acquisition will
provide  investors  and potential investors with  a  much  sought
after increase in the liquidity in JETCAM's shares.'

                                                30 September 1999
                                                                 
ENQUIRIES

JETCAM International Holdings Limited      Tel: [phone]
John Wright

College  Hill                              Tel: [phone]
Nicola Weiner

John  East & Partners Limited              Tel: [phone]
John East
David Worlidge

              JETCAM INTERNATIONAL HOLDINGS LIMITED
                   ('JETCAM' or 'the Company')
                                
             Proposed Acquisition of Camtek Limited
                                
     Placing and Open Offer of 3,280,260 new Ordinary Shares
                        at 90p per share

Introduction
It  was  announced today that JETCAM has conditionally agreed  to
acquire  the  entire issued share capital of  Camtek,  a  company
whose principal activity is the development and marketing of  CAM
software  systems for computer numerical control  programming  of
machines  in  its  primary  market areas  of  metal  cutting  and
fabrication.  These are complementary activities to the  business
of  your  Company.  The consideration for the acquisition  is  £4
million,  of  which  £1.5  million is  to  be  satisfied  by  the
allotment and issue of the Consideration Shares, with the balance
of  £2.5  million  payable  in  cash.   For  the  year  ended  30
September,   1998,  Camtek  earned  a  profit  before   tax   and
exceptional  items of £421,000 and had net assets of £934,000  at
that  date.   The principal Vendors, being Mr Geoffrey Hawkesford
and  Mr  Mike Anstey, have warranted that Camtek's profit  before
tax  for the year ending 30 September, 1999, after adjustment  in
accordance with the Acquisition Agreement, will be not less  than
£531,000.

The Company also proposes to raise £2.65million (net of expenses)
by  way  of the Placing and Open Offer of 3,280,260 new  Ordinary
Shares at a price of 90p per share.

Information on JETCAM
History
The  business of JETCAM was conceived by Ivan Stern  and  William
King  in 1986 to develop and market software systems for computer
numerical  control programming of punching and  cutting  machines
used in sheet metal fabrication and product development began  in
February  of  that year.  Ivan Stern was responsible  for  system
design  and  William King for implementation.  The  business  was
transferred to JETCAM Corporation Pty. Limited in 1987, following
formal  incorporation of that company in Australia and its  first
product was launched later that year.  Successive releases of new
product  versions led to the introduction of the  present  range,
JETCAM Expert, in 1997.

In  1991 JETCAM Europe GmbH was established to distribute  JETCAM
products throughout Europe.  JETCAM International was established
in  1992  and  was the main trading company of the  JETCAM  group
until  its  acquisition  by the Company in  April  1999.   JETCAM
Corporation Pty Limited and JETCAM Europe GmbH were dissolved  in
1992  and  January  1999, respectively and  all  trading  is  now
carried out through the JETCAM Group.

The  two-man  team  of Ivan Stern and William King,  subsequently
augmented  by  two administrative support staff, constituted  the
entire  headcount of JETCAM International until the end of  1996.
From   the  beginning  of  1997,  JETCAM  International  steadily
strengthened its management, development, technical support  and,
through   its   arrangements  with  B.A.S.E,  its  administrative
resources  and  established JETCAM UK in May  1998.   The  JETCAM
Group  now  employs a total of 15 staff and, through  consultancy
arrangements  and  its arrangements with B.A.S.E.,  utilises  the
services of a further 8 people.

The  audited financial statements for the three year period ended
31   December   1998  show  that  JETCAM's  business   has   been
consistently profitable and self-financing.  Revenues have  grown
to  approximately  £1.6 million with a profit, before  and  after
taxation, of £825,000 for the year ended 31 December 1998.

Today,  over 2000 JETCAM software systems are installed worldwide
for  use with more than 120 different types of computer numerical
control  machines.   The JETCAM Group's sales  growth  in  recent
years  has  not  been fully reflected in profit  growth,  as  the
infrastructure has been increased to facilitate further growth in
future years.

The  Company is entitled to, and is dependent on, all proprietary
intellectual  property rights in respect of JETCAM products  with
the  exception  of  a  specialised software  library,  which  has
recently been purchased for integration into JETCAM Expert.

In  May  1999, JETCAM issued 441,430 ordinary shares, which  were
placed  with  investors at 70p per share and  its  entire  issued
ordinary share capital was admitted to trading on AIM.


Current Products
The  JETCAM  Expert  series  of  software  programs  provides  an
efficient,  easy  to  use method for creating computer  numerical
control code to program metal punching and cutting machines.   By
combining  the Directors' understanding of sheet metal processing
technology  with  modern computer programming  practices,  JETCAM
Expert  succeeds in automating most of the steps needed to create
computer numerical control code from CAD design drawings.

End  user  product  prices range from US$7,800  to  US$30,000  or
occasionally more, depending on model and options.  The Directors
consider  that  the  key  points that distinguish  JETCAM  Expert
products from the competition are:

*    ease of training, use and installation;

*    the degree of automation possible;

*    speed of performance; and

*    high reliability coupled with low maintenance and post-sales
support.

Sales  are  made  through the Company's UK subsidiary,  a  dealer
network and original equipment manufacturers.  In the year  ended
31   December  1998  original  equipment  manufacturers  provided
approximately  56  per  cent of JETCAM Group  revenues,  and  the
Directors  consider that they will continue  to  provide  a  high
proportion  of  sales in the future.  JETCAM  International  also
introduced  a  software maintenance program  in  1997,  which  is
expected to provide recurring and steadily increasing income.


Product Development
The  development plans for JETCAM Expert contain a number of  new
features.   As well as small improvements, the Directors  believe
that  the  move  towards further automation of the  process  from
component  drawing  to  computer numerical control  code,  should
enhance the Company's competitive advantage and bring benefits to
users.   At  the same time, product demonstrations will  be  made
easier  and  more  compelling and the recent change  to  a  fully
operational  Windows version of the product will facilitate  this
process.

In  the  last  quarter of 1999 JETCAM intends to release  its  3D
modelling  and  unfolding  package, JETCAM  3D  Expert.   Already
supplied  in pre-release form, this is designed specifically  for
the  computer  numerical control machine user, to deal  with  the
problems  of three dimensional sheet metal component  design  and
manufacturing  construction.  Used  in  conjunction  with  JETCAM
Expert,  the  Directors believe that this  will  provide  a  well
adapted tool to simplify handling of this type of work, either on
its  own,  or in association with general purpose computer  aided
design packages.

On  29  June,  1999 JETCAM entered into heads of  agreement  with
Factory  Automation  Systems Inc., for the  purchase  of  a  non-
exclusive licence to utilise its press brake simulation software.
This software is used for programming press brake machines in the
manufacture  of  sheet  metal components  and  to  give  a  three
dimensional  depiction of the bending process.  The consideration
for  the purchase of the licence is US$100,000, together  with  a
royalty  payable  at  8  per cent. of sales  of  JETCAM  products
incorporating this software.

This modest outlay is expected by the Directors to accelerate the
launch of JETCAM's Bend Expert product, which extends further the
Company's product range for machine shop applications.

In the longer term, there are other areas where the Directors see
the opportunity to make a major impact on the market, focussed on
the  needs  of  the  sheet  metal fabrication  shop,  which  will
continue to be its prime area of expertise.


The Market
The  Directors  believe  that  the JETCAM  Group's  existing  and
planned  products have a total annual end user  market  of  about
$240  million.  Taking into account the sales mix, the  Directors
believe  that  the  JETCAM  Group's  current  market  penetration
equates to approximately 3.5 per cent.


Competition
In the computer aided manufacturing sector, the Directors believe
that competition comes from three principal sources:

i) independent   companies,  similar  to  JETCAM,   which   supply
   software  supporting  most  major  computer  numerical  control
   machines;


ii) machine tool manufacturers which develop their own software;
    and

iii)small suppliers serving local customers.

Competitive Advantage and Barriers to Competition
JETCAM has evolved, and continues to develop, a system which  the
Directors  believe  is  more versatile and  easier  to  use  than
competitive  products,  providing  a  considerable   measure   of
automation,  and which experience shows to be reliable,  so  that
post-sales support requirement is low.

JETCAM  software contains complex algorithms which the  Directors
believe  would  be difficult to replicate and are based  on  over
twelve years' experience in building a detailed understanding  of
the  variety and complexity of computer numerical control machine
characteristics and their continuing evolution.

The  Directors believe that JETCAM's software is of high quality,
in  terms  of  ease of training, reliability and maintainability.
Great  stress  has  been  laid  on these  aspects  since  product
inception,  with  the  result that JETCAM International  receives
very  few  reports of problems from its user base  of  over  2000
installations.

Market and Growth Opportunities
The  Directors believe that JETCAM is unusual in the  breadth  of
computer  numerical control machines which it  services,  in  its
international  presence and in its reputation as  a  supplier  of
quality products.  Many computer numerical control machine  users
employ  equipment  from different sources.   The  JETCAM  Group's
products  provide a single software standard for  a  majority  of
these  machines  reducing training allowing the same  job  to  be
executed   on   different  machines  without  reprogramming   and
minimising  the need for computer numerical control  programmers.
The Directors believe, therefore, that the Company's software has
the potential to establish itself as a standard for the industry.

The   enhancements  currently  being  implemented   in   JETCAM's
products,  following the recent release of the  Windows  version,
are  intended  to  make the products easier to  use  and  further
automate   the  process  which  turns  a  drawing  into  computer
numerical  control  instructions.  The  Directors  believe   that
downward  pressure on pricing will be lessened by being  able  to
demonstrate  more  easily to the user the real  value  which  the
software  brings to the tasks.  The Directors believe  that  this
should   make   it  easier  to  obtain  new  original   equipment
manufacturer  customers as a continuation of the process  towards
achieving  industry  standard status. It should  also  allow  the
independent  dealer network already in place to be  expanded  and
made more effective.

The  new product initiatives described above are intended to  add
new  means of increasing revenues and profitability.  In addition
to  increasing  product  sales,  in  mid-1997  JETCAM  introduced
maintenance agreements which generate incremental revenue and add
recurring income to the existing business.

The JETCAM Expert product range continues to be developed and new
products are scheduled to be released to cover other already well-
defined sheet metal fabrication shop requirements.  The Directors
believe  that  there  is an opportunity for one  software  system
supplier to become the dominant provider in what they perceive to
be  a  fragmented  market and that the JETCAM  Group's  products,
market presence and reputation, position it to be able to achieve
this.

The  Directors  believe, therefore, that JETCAM's  business  will
grow through the continuing development of its existing products,
the  release  of new products and associated development  of  its
original equipment manufacturer and other reseller channels.


Financial Record
The  JETCAM Group's results for the three years ended 31 December
1998 are summarised below.

                           Year ended 31 December
                           1996        1997       1998
                          £'000       £'000      £'000
Revenues                  1,383       1,282      1,635
Cost of Sales               (49)        (75)       (63)
                                              
Gross Profit              1,334       1,207      1,572
                                              
Profit before and           766         603        825
after tax

The  results  for the year ended 31 December 1997 were  adversely
affected by three factors:

*    currency fluctuations, which impacted on the value of sales;

*    development of the WindowsTM version of JETCAM Expert; and

*    an increase in the infrastructure of JETCAM International to
     facilitate anticipated growth.


Information on Camtek
History
Camtek  was  formed in 1983 by Geoffrey Hawkesford, its  managing
director,  and Mike Anstey, its technical director.  The  company
has  traded profitably since its inception as a developer of  CAM
and  computer integrated manufacturing software systems on  which
it  is  dependent.  It has evolved into a team of  32  personnel,
working  in  research  and  development,  systems  creation   and
support, application support and customer training, together with
sales  and administration, for its core business, which is  metal
cutting  and fabrication.  In 1992, Camtek acquired and developed
the  freehold  premises in the centre of Malvern, Worcestershire,
which  are  adjacent to the leasehold premises which it continues
to  occupy.  Camtek established a subsidiary in the USA in  1995,
which commenced trading in May 1998.

Products and Services
Camtek's   main  product  is  the  PEPS  Production   Engineering
Productivity System which is PC based and comprises two  modules.
PEPSFAB, the fabrication module, develops numerical control  data
for  punching and nibbling, laser, plasma or flame profiling  and
water jet cutting machines; PEPSCUT simplifies the programming of
wire  electrical discharge cutting machines and milling,  turning
and  routing machine tools.  Applications for these products  can
be found in a wide range of industries, including the automotive,
military,   machine  tool,  aerospace,  fabrication  and   marine
industries  and  are  designed  to  be  used  in  machine   shops
worldwide.


Customers
Camtek  has  an  installed base of over 8,000 systems  worldwide.
For  the year ended 30 September 1998, approximately 80 per cent.
of sales were to agents, distributors, or equipment manufacturers
and  20  per cent. of sales to end users.  Approximately  45  per
cent  of  sales  were  derived from the top three  customers  and
approximately 60 per cent. from the top 12 customers.

Financial Record
The Camtek Group's results for the three years ended 30 September
1998 are summarised below.

                           Year ended 30 September
                           1996        1997       1998
                          £'000       £'000      £'000
Revenues                  1,338       1,668      2,106
Cost of Sales              (586)       (710)      (822)
                                              
Gross Profit                802         958      1,284
Profit before tax &                           
exceptional items            69         189        421
Exceptional items            82          89       (199)
                                              
Profit before tax           151         278        222


Reasons for the Acquisition
The  Directors  and  Proposed  Director  consider  that  Camtek's
competitors  fall  into the same categories as those  of  JETCAM,
with  the occasional exception of approximately six large CAD/CAM
suppliers.

When  JETCAM's ordinary shares were admitted to AIM in May  1999,
the Directors stated that they perceived the sheet metal computer
numerical  control  programming software  market  as  being  very
fragmented.    They  further  stated  that  they  believed   that
admission  to AIM would provide the Company with the  ability  to
make  acquisitions,  which they intended  to  finance  either  by
further  issues  of  Ordinary Shares or the proceeds  of  further
issues  of  Ordinary Shares, as appropriate.  The acquisition  of
Camtek is the first such acquisition.  The business of Camtek  is
complimentary  to  the  business of JETCAM.  Both  companies  are
engaged   in   the  production  of  computer  numerical   control
programming  software for use in metal cutting  and  fabrication.
There  is  hardly  any  customer  overlap  and  Camtek's  PEPSCUT
software  provides  an  extension  to  JETCAM's  product   range.
Furthermore, the premises and facilities at Camtek's premises  in
Malvern  provide  a  future opportunity for  the  integration  of
JETCAM UK.


Details of the Acquisition
The  consideration  for the Acquisition is £4 million,  of  which
£1.5 million is to be satisfied by the issue at the Placing Price
of  the  Consideration  Shares credited as  fully  paid  and  the
balance of £2.5 million is payable in cash on completion  of  the
Acquisition,  which  is scheduled to take place  as  soon  as  is
practicable  following  the Special General  Meeting.   Prior  to
completion  of the Acquisition, it is intended that  the  Vendors
will  have  received £400,000 in cash from Camtek, by  way  of  a
special  dividend, and will also have had the  ownership  of  two
properties  with an aggregate book value of £183,000  transferred
into  their  own names.  The resultant net assets  of  Camtek  at
completion  of  the Acquisition are expected to be  approximately
£720,000.

It is a term of the Acquisition that the Vendors give irrevocable
undertakings  to JETCAM, John East & Partners and Townsley  that,
subject   to   certain  exceptions,  they  will  not   sell   the
Consideration Shares at any time during the first 12 months after
Admission  without  the  prior written consent  of  John  East  &
Partners and Townsley.   The Vendors have additionally undertaken
only  to  sell  the Consideration Shares through Townsley  for  a
period of 12 months following the initial 12 month period.

Current Trading
The  unaudited interim results for the six months ended 30  June,
1999  were  announced earlier today and show a profit before  and
after taxation of £300,000 on sales of £902,000.

The Directors believe that the outlook for the year as a whole is
still  in  line  with  original expectations for  a  satisfactory
result.   The  factors  that  will  contribute  to  this  are   a
strengthening  of sales to the company's major OEM  customer,  an
aggressive  marketing  campaign  promoted  by  a  new   marketing
manager,   a   dealer  management,  development   and   expansion
programme,   additional  emphasis  on  the  Company's   recurring
maintenance income and the anticipated launch of new products  in
the second half of the year.

Camtek  has  had  a successful year's trading and  the  principal
Vendors  have warranted that its profit before tax for  the  year
ending  30  September, 1999, after adjustment in accordance  with
the Acquisition Agreement, will be not less than £531,000.

Future Prospects for the Enlarged Group
The  Acquisition will substantially increase the size  of  JETCAM
Group.   The  Directors and Proposed Director  believe  that  the
JETCAM  Group  will  benefit  from the  Acquisition,  due  to  an
increased  customer base and increased product range  which  will
provide  the  opportunity  to sell a  wider  range  of  products,
including the new products described above, to all customers, and
will further benefit from greater size from which to make further
acquisitions.  They also believe that the integration of the  two
UK  operations  should result in enhanced market  visibility  and
worthwhile cost savings.

Although  one  customer providing approximately 10  per  cent  of
Camtek's  turnover  in  the  year ended  30  September  1998  has
indicated   that  the  Acquisition  will  lead  to  the   current
relationship   being  terminated,  the  Directors  and   Proposed
Director do not consider that this would have a material  adverse
impact on the Enlarged Group and feel justified in looking to the
future with confidence.


Directors,  Proposed  Director  and  Senior  Management  of   the
Enlarged Group

Directors
George Kynoch (Non-Executive Chairman), aged 52, was appointed  a
director and chairman of the Company in June 1999 and is also non-
executive chairman of Silvertech International plc, London Marine
Group Limited, Mountwest 146 Limited, Benson Group Limited and is
also  a  director of Midmar Energy Limited and WML Group plc.  He
has over 20 years' experience in industry and was chief executive
of  G  & G Kynoch plc (the predecessor of Kynoch Group plc),  the
listed designer and manufacturer of healthcare equipment for  use
in  contamination control.  He was also Grampian Industrialist of
the  Year  in 1988 and received the Highland Business  Award.  Mr
Kynoch  was  the  Scottish Office Industry and  Local  Government
Minister from 1995 to 1997, while serving as Member of Parliament
for Kincardine and Deeside between 1992 and 1997.

Ivan Stern (Chief Executive and Deputy Chairman), aged 53, is the
co-founder  of  JETCAM and its predecessor companies.   Prior  to
establishing JETCAM, he was between 1984 and 1986 a  director  of
and  a  shareholder in The Portable Computer Company Pty. Limited
in  Australia,  to which he had emigrated from Czechoslovakia  in
1970. Between 1970 and 1984, he was employed by various companies
in  the  electronic  and  computer industry,  including  his  own
company, Stern Electronic Services Pty. Limited, between 1981 and
1984.   He moved to Germany in 1991 and to Monaco in 1993. He  is
responsible for development and marketing.

William  King  (Technical Director), aged 37, is  the  other  co-
founder of JETCAM and its predecessor companies.  He is the  head
of  software  development with responsibility  for  creating  the
architecture  to implement application in the most efficient  and
flexible manner.

John  Wright  (Business Development Director),  aged  57,  joined
JETCAM  in  January 1997.  His responsibilities include strategic
business  and  sales development and administration.   His  early
career  was spent with ICL and Xerox Data Systems Limited,  where
he  was  UK Sales Manager. In 1976 he became UK managing director
of   Systems  Engineering  Laboratories  Inc.,  a  Florida  based
supplier  of real-time computers, becoming Vice-President  Europe
in   1978   and   Vice-President  International  in   1980.    He
subsequently held senior positions with TYX Corporation,  Cadence
Design  Inc.  and  ANACAD GmbH, before joining the  Company.   Mr
Wright  was  the  founder in 1976 of The Span  Consultancy  which
became  one  of  the  leading suppliers of  computer  consultancy
personnel in the UK, prior to its acquisition by Computer  People
Limited (which is now part of Delphi Group plc) in 1994.

Peter  Radzim  (Managing Director of JETCAM International),  aged
45,  is Ivan Stern's brother. He joined the JETCAM Group in April
1998 with responsibility for ongoing JETCAM 3D Expert development
and   product  release  and  to  take  responsibility   for   the
development  of  a  new  product  for  production  control.   His
background is in the sheet metal industry and he continues to own
a  sheet  metal fabrication company and a metal finishing company
in  Australia.  He brings to JETCAM invaluable experience in  all
aspects of the practicalities of running a successful sheet metal
fabrication operation.

Ian  Ilsley,  FCCA (Finance Director,) aged 50,  is  a  certified
accountant,  a  member  of  The  Society  of  Trust  and   Estate
Practitioners and a Fellow of the Institute of Directors.  He has
been managing director of B.A.S.E and its controlling shareholder
since 1984.

Frank  Lewis  (Non-Executive Director), aged 53, qualified  as  a
chartered accountant in his native South Africa and qualified  as
a  chartered accountant in the UK following his arrival  here  in
1989.  He has been Group Finance Director of Kerrington plc since
November  1994  and from 1989 until then was chief  executive  of
City  Corporate Services Limited and three other companies  as  a
result.   Prior to leaving South Africa he was, for  four  years,
finance   director  and  deputy  managing  director  of  Computer
Warehouse  Limited, a national computer retail  and  distribution
company based in Cape Town.

Proposed Director
Geoffrey  Hawkesford (Managing Director of Camtek), aged  51,  is
the  joint  founder  of  Camtek and is  responsible  for  product
development  and commercial activities.  Mr Hawkesford  graduated
from  the University of Aston in 1971, with a first class  degree
in  mechanical  engineering.  In 1977 he  joined  Counting  House
Computer  Systems  Limited, ultimately being appointed  technical
director.   In  1981  he  joined NC Riter  Limited  as  technical
director before leaving to found Camtek in 1983.

Proposed Senior Management
Mike Anstey (Technical Director of Camtek), aged 43, is the joint
founder of Camtek and is responsible for product development  and
programming.   He  has  an  honours degree  in  Combined  Studies
(Mathematics and Computing) attained at Leicester Polytechnic  in
1978.   Prior  to  founding  Camtek,  he  joined  Counting  House
Computer Systems Limited in 1978 as a computer programmer and  NC
Riter Limited in 1982 as senior programmer.

John  Didcote (Sales Director of Camtek), aged 54, joined  Camtek
from NC Riter Limited in 1986. He was appointed sales director in
October  1990  and  is  responsible for worldwide  sales  of  the
Company.

Employees
The  Enlarged  Group will employ or engage a total  of  55  staff
including  the  Executive Directors, 18  in  engineering,  12  in
technical  support,  7  in sales and 18  in  general  management,
market development, administration and finance.



Corporate Governance
The  Directors  intend to comply with the combined  Code  on  the
Principles  of  Good Governance and the code  of  Best  Practice.
They  have  established audit and remuneration  committees  which
comprise  the  two non-executive directors.  Frank Lewis  is  the
chairman of the audit committee and George Kynoch the chairman of
the remuneration committee.


Share Option Scheme and other arrangements
The Company has established the Share Option Scheme to provide an
incentive  to  senior executives, full time consultants  and  key
employees.  Options over a total of 223,5000 Ordinary Shares were
granted  under the Share Option Scheme to qualifying participants
at  the time of the original admission to AIM.  The Company  also
granted at the time options over 360,828 Ordinary Shares to  each
of  The  Brampton  Group  Ltd  and  Vigan  Securities  SA,  which
companies are owned by the family trusts of John Wright  and  Ian
Ilsely  respectively. In addition, options over 451,035  Ordinary
Shares  were granted to Garnham & Co Limited, a company in  which
Ian  Ilsley  is  interested.  Following  the  completion  of  the
Proposals, it is intended that options will be granted to certain
directors and the senior management of Camtek.


Dividends and Dividend Policy
Subject  to compliance with Bermuda law, the Directors intend  to
recommend,  in  respect of each year, an interim dividend  and  a
final  dividend, which will normally be paid in April and October
respectively.  The  interim  dividend  will  normally   represent
approximately one third of the total dividend that may be paid in
respect of any year.

The Directors have today announced an interim dividend in respect
of the six month period ended 30th June, 1999 of 0.8p per share.

The  Directors intend to follow a progressive dividend policy  in
the  future, having regard to the investment requirements of  the
Enlarged Group.


Reasons for and Use of Proceeds of the Placing and Open Offer
The  consideration for the Acquisition, as set out above,  is  £4
million, of which £1.5 million is to be satisfied by the issue of
the  Consideration Shares with the balance of £2.5 million  being
payable  in  cash.  The Placing and Open Offer will  raise  gross
proceeds of approximately £2.95 million for the Company and  will
provide   the   cash  element  of  the  consideration   for   the
Acquisition, with the balance being utilised to pay for the costs
of  the  implementation of the Propsoals and to  provide  working
capital generally for the Enlarged Group.


Details of the Placing and Open Offer
The  Company  is proposing to raise approximately  £2.95  million
(before expenses) by the issue of the Placing Shares pursuant  to
the  Placing and Open Offer.  Accordingly, 3,280,260 new Ordinary
Shares  have  been conditionally placed by Townsley,  subject  to
Qualifying Shareholders having the right to apply for such shares
under the Open Offer at a price of 90p per share free of expenses
pro rata to their existing shareholdings on the basis of:

      2 Offer Shares for every 11 Existing Ordinary Shares

held  at  the close of business on the Record Date and so  on  in
proportion  for  any greater number of Existing  Ordinary  Shares
then held.

Fractional  entitlements  will  not  be  allocated  but  will  be
aggregated and sold for the benefit of the Company.  The  maximum
entitlement  of each Qualifying Shareholder is indicated  on  the
Application   Form   accompanying   this   document.   Qualifying
Shareholders may apply for any number of Offer Shares up to their
maximum entitlement.

The  Directors of JETCAM, who in aggregate beneficially own  17.6
million Existing Ordinary Shares, representing 97.55 per cent  of
the present issued ordinary share capital, have maximum aggregate
entitlements  under the Open Offer to 3.2 million  Offer  Shares.
The  Directors have irrevocably undertaken not to take  up  their
entitlements, which have been placed firm with institutional  and
other investors.

An   Application   Form,   containing   details   of   Qualifying
Shareholders  entitlements to the Offer Shares will  be  sent  to
Qualifying  Shareholders  today.  The terms  of  the  Open  Offer
provide  the  Qualifying Shareholders who make valid applications
for  up to and including their maximum pro rata entitlement  will
be  entitled to receive all such Offer Shares.  An application to
subscribe  for  Offer Shares may only be made on the  Application
Form.

Each   Application  Form  will  be  personal  to  the  Qualifying
Shareholder(s)  named  thereon  and  may  not  be   assigned   or
transferred  other  than  to  satisfy  bona  fide  market  claims
pursuant to the Rules of the London Stock Exchange.

Qualifying  Shareholders should be aware that the Open  Offer  is
not  a rights issue and that Townsley will not attempt to procure
subscribers  in  the market for Offer Shares not applied  for  on
behalf  of  those Qualifying Shareholders who do  not  apply  for
their   entitlements.    To  be  treated  as   valid,   completed
Application Forms and payment in full must be received by IRG plc
by 3.00pm on 25th October 1999.

The  Placing and Open Offer is subject to the satisfaction, inter
alia,  of  the  following conditions on or before  1st  November,
1999,  (or  such  later date being not later than 30th  November,
1999,  as  the  Company, John East & Partners  and  Townsley  may
agree):

i)   the  passing  without  amendment of the  Resolution  at  the
     Special General Meeting;

ii)  the  subscription  monies  for  the  Placing  Shares  being
     received in full;

iii) the Placing Agreement becoming unconditional in all respects
     and  not having been rescinded in accordance with its terms;
     and

iv)  Admission  becoming effective by 9.00 a.m. on  1st  November
     1999, (or such later time or date not being later than  9.00
     a.m.  on  30th  November 1999 as the Company,  John  East  &
     Partners and Townsley may agree).

The  Placing Shares will, when issued and fully paid,  rank  pari
passu   in  all  respects  with  the  existing  ordinary  shares,
including   the  right  to  receive  all  dividends   and   other
distributions  hereafter declared, made or paid, save  that  they
will not rank for the interim dividend declared in respect of the
six month period ended 30 June 1999.


Marketability
Application  will  be  made for the New  Ordinary  Shares  to  be
admitted to trading on AIM. Assuming that the Resolution is  duly
passed  at  the  Special General Meeting,  it  is  expected  that
Admission  will become effective and trading in the New  Ordinary
Shares  will commence on 5th November, 1999. John East & Partners
has  been  appointed  as  the  Company's  nominated  adviser  and
Townsley & Co as the Company's nominated broker for this purpose.

It  is  emphasised that no application has been or is being  made
for  admission  of Ordinary Shares to the Official  List  of  the
London Stock Exchange.  The rules of AIM are less demanding  than
those of the Official List.

Pro Forma Net Assets of the Enlarged Group
The  pro forma net assets of the Enlarged Group as at 30th  June,
1999,  taking into account the Placing, the Acquisition  and  the
expenses of the Proposals amounted to approximately £5 million.

                                               
Timetable of Principal Events                   30 September 1999


                                                                
Record Date for Open Offer                       27 September 1999

Latest time for splitting Application Forms      3pm on 21 October
in respect of the Open Offer (to satisfy
bona fide market claims only)

Latest time for receipt of Forms of Proxy    11.00am on 24 October
for the Special General Meeting

Latest time for receipt of Application Forms  3.00pm on 25 October
and payment in full

Special General Meeting                       11.00am on 26 October

Admission effective and trading expected to             1 November
Commence

Share certificates in respect of New Ordinary           8 November
Shares despatched by



Placing Statistics


Placing price                                             90 p

Number of Placing Shares                             3,280,260

Number of Consideration Shares                       1,666,667

Number of Ordinary Shares in issue following the    22,988,357
Proposals

Market capitalisation following Admission       £20.69 million
at the Placing Price

Net proceeds receivable by the Company pursuant  £2.65 million
to the Placing and Open Offer