Final Results

Jetcam International Holdings Ld
28 March 2000



              JETCAM International Holdings Limited
                   ('JETCAM' or 'the Company')
                                
    Preliminary results for the year ended December 31, 1999
                                
JETCAM  is  an  AIM  quoted company which develops  and  markets
software  systems  for  computer  programming  of  punching  and
cutting machines used in sheet metal fabrication.


*    Turnover for the year up to £2.2m (1998: £1.64m)

*    Increased sales through dealer network

*    Successful flotation on AIM and acquisition of Camtek Limited

*    Strengthening of management team with the appointment of
     Clive Daykin as Finance Director of JETCAM International
     Limited and financial controller of the Group.

*    New administrative systems in place


George Kynoch, Chairman, commented:

'The last year has been one of great development for JETCAM with
the flotation on AIM and acquisition of Camtek Limited.  We have
now  put in place the structure and management that will  enable
us  to take advantage of our position as the leading provider of
software  systems for the computer programming of  punching  and
cutting machines used in sheet metal fabrication. '

                                                   28 March 2000


Enquiries:

JETCAM International Holdings    Tel: (today) 020 7457 2020
Ivan Stern                       Tel: (thereafter) 00 377 97 97 1640
John Wright

John East & Partners Limited    Tel: [phone]
John East                       E-mail:[e-mail]
David Worlidge                  E-mail:[e-mail]

College Hill                    Tel: [phone]
Nicola Weiner                   E-mail: [e-mail]
Chelsea Allen                   E-mail: [e-mail]


                      CHAIRMAN'S STATEMENT

I  am  pleased  to  present, this my first  preliminary  results
statement   since   Jetcam  was  admitted  to  the   Alternative
Investment Market ('AIM') in May last year.

The  year  under  review has been an eventful  one  for  JETCAM,
encompassing both flotation on AIM and the accompanying  placing
and  its  first  acquisition of Camtek Limited in October  1999.
These  events marked the transformation of JETCAM into a  public
company  intent  upon growing its share of a  highly  fragmented
marketplace and enhancing shareholder value.

We  warned  in January this year that the outcome for  the  year
ended   31st   December,  1999  would  fall  short   of   market
expectations and this has indeed been the case. Turnover for the
year  was  £2.2  million (1998: £1.64 million)  with  a   profit
before taxation of £405,000 (1998: £825,000). This reduction  in
profit  was due to a number of factors.  Towards the end of  the
year  we  experienced  a marked reduction  in  orders  from  the
Company's OEM customers.  We attributed the slowdown to a number
of  potential factors, including Y2K nerves, significant  margin
pressure  in the UK and a reduction in sales values due  to  the
decline  of  the euro, in which approximately one-third  of  the
Company's business is transacted. Whilst the possibility of  Y2K
problems for our customers and currency risk were referred to in
both  the  prospectuses  issued by the Company  last  year,  the
results   are  nevertheless  disappointing.   It  was,  however,
encouraging to note increased sales through our dealer  network,
although these were not sufficient to compensate for the adverse
factors set out above.

In  spite of these difficult market conditions, I am pleased  to
report that your Directors are recommending a final dividend  of
1.45p  per share, payable on 30th June, 2000 to shareholders  on
the  register on 9th June 2000 to give a total dividend of 2.25p
for the year.

In  the  UK,  the  acquisition of Camtek  has  resulted  in  the
integration of Jetcam UK  within the Camtek offices in  Malvern,
with  consequential cost savings  and a strengthening of the  UK
management team.

Your  board  is currently implementing a programme  designed  to
have a significant impact on the Company's sales and presence in
Europe  in  the year 2000 and beyond. At the same  time,  JETCAM
continues  to develop its products to keep them at  the  leading
edge  and  to  exploit  new market opportunities  wherever  they
arise. Laser cutting machines represent an increasing portion of
the  overall market and product enhancements to deal with  their
needs  are  designed to ensure that JETCAM Expert maintains  its
technological advantage. The recent release of JETCAM 3D  Expert
has  had  an encouraging response and existing and new customers
are  adopting  it  to  deal  with the  problems  encountered  in
designing  and  unfolding  sheet  metal  components  ready   for
manufacture.

The  acquisition of Camtek has increased the overall development
resources of the Group. In addition to continuing to enhance its
core  milling  turning  and wire erosion products,  Camtek  will
shortly  release  its 5 axis laser programming system  into  the
market.

Overall,  we  believe  that JETCAM is  devoting  an  appropriate
proportion  of its resources to bring about the innovations  and
enhancements to its product range necessary to keep ahead of the
competition and increase sales.

Your  directors  have  implemented  new  administrative  systems
throughout  the Group and I would like to take this  opportunity
of  thanking  Peter  Radzim,  who left  the  Board  recently  to
concentrate  on  his  business interests in Australia,  for  the
significant part he played in bringing this about.  As  part  of
the administrative reorganisation, we welcome Clive Daykin, ACA,
who joins us as finance director of JETCAM International Limited
and financial controller of the Group.

The  current year to date has shown an increase in sales in real
terms  leading  your Directors to believe that  we  will  see  a
resumption of growth in the current year.

Finally, I would like to take this opportunity of thanking my co-
directors,  advisers  and all our staff for  their  efforts  and
commitment  during  our first year as a public company.

George Kynoch
Chairman                                          28 March 2000
                                

Consolidated Profit and Loss Account


                               Note        For the year  For the year         
                                                  ended         ended   
                                            31 December   31 December 
                                                   1999          1998
                                                      £             £
                                                                   
Turnover                                                             
                                                                     
Continuing operations               1,840,181               1,634,617
                                                                     
Acquisitions                          360,250                       -
                                                                     
Total turnover                                  2,200,431   1,634,617
                                                                     
Cost of sales                                   (134,425)    (62,767)
                                                                     
Gross profit                                    2,066,007   1,571,850
                                                                     
Net operating expenses                         (1,661,078)   (746,797)
                                                        
                                                                     
Operating profit                                                     
                                                                     
Continuing operations                 239,670                 825,053
                                                                     
Acquisitions                          165,259                       -
                                                                     
Profit on ordinary activities                     404,929     825,053
before taxation
                                                                     
Tax on profit on ordinary                        (35,294)           -
activities
                                                                     
Profit for the financial year                     369,635     825,053
                                                                     
Dividends paid and proposed                     (474,752)   (939,290)
                                                                     
Retained deficit for the                        (105,117)   (114,237)
financial year
                                                                     
                                                                     
                                                                     
Earnings per ordinary share     4                    2.7p        4.7p

                                

Consolidated Balance Sheet

As at 31 December 1999

                                     Note      As at       As at
                                         31 December 31 December
                                                1999        1998
                                                   £           £
Fixed assets                                                    
                                                                
Intangible assets                      2   3,387,040           -
                                                                
Tangible assets                              544,315      57,033
                                                                
Investments                                      827           -
                                           3,932,182      57,033
                                                                
Current assets                                                  
                                                                
Stocks                                        19,581           -
                                                                
Debtors                                    1,264,304     578,007
                                                                
Cash at bank in hand                         366,255      38,642
                                                                
                                           1,650,140     616,649
                                                                
Creditors: amounts falling due            (1,066,034)    (97,825)
within one year                                    
                                                                
Net current assets                           584,106     518,824
                                                                
Total assets less current                  4,516,288     575,857
liabilities
                                                                
Creditors: amounts falling due                                  
after more than
  one year                                                      
                                                                
Provisions for liabilities and             (131,636)           -
charges
                                                                
Total net assets                           4,384,652     575,857
                                                                
Capital and reserves                                            
                                                                
Called up share capital                5     143,319           1
                                                                
Share premium account                  5   3,896,326           -
                                                                
Profit and loss account                5     345,007     575,856
                                                                
Equity shareholders' funds                 4,384,652     575,857
                                                                
                                                                
                                
              JETCAM International Holdings Limited
                    (Incorporated in Bermuda)
                Notes to the financial statements
              For the year ended December 31, 1999
                 (Expressed in Pounds Sterling)



1    Results

The financial statements have been prepared under the historical
cost  convention  and  in accordance with applicable  Accounting
Standards in the United Kingdom.


2    Acquisitions

On  the  1st  November 1999 the group acquired the entire  share
capital  of  Camtek Limited for a consideration  of  £4,012,563.
This  has  been  capitalised in the group  balance  sheet.   The
consideration  included cash of £2,508,813 and 1,666,667  shares
issued  fully paid at 90p per share.  This acquisition has  been
accounted  for using the acquisition method of accounting.   The
amount  of  goodwill arising as a result of the  acquisition  is
£3,416,121.


3    Financial statements

The  comparatives as at 31st December 1998 have  been  extracted
from  the  statutory  accounts of Jetcam  International  Limited
which received an unqualified audit report and were delivered to
the Registrar of Companies in Bermuda.

The  financial information for the year ended December 31,  1999
is  extracted from the group's financial statements to that date
which received an unqualified auditor's report and will be filed
with the Registrar of Companies in Bermuda in due course.



4    Dividends

The  Company  has already paid an interim dividend of  0.8p  per
share  and the Directors are recommending the payment of a final
dividend  of  1.45p per share, making 2.25p per  share  for  the
year.  The final dividend will be payable on 30th June, 2000  to
shareholders  on  the register at the close of business  of  9th
June, 2000.


5    Reserves

                                 Share                  
                      Called up  premium     Profit and 
                      share      account     loss            Total
                      capital                account
                          £          £           £          £
At January 1, 1999                                                
                                                575,857    575,857
Issue of ordinary        143,319  4,684,974              4,828,293
shares
Share issue expenses              (788,648)              (788,648)
Retained deficit for                          (105,117)  (105,117)
the year
Bonus shares issued                           (110,000)  (110,000)
Exchange difference on                         (15,733)   (15,733)
retranslation
                                                        
At December 31, 1999     143,319  3,896,326     345,007  4,384,652



Copies of the Report and Accounts will be posted to shareholders
shortly and will be available from John East & Partners Limited,
Crystal Gate, 28-30 Worship Street, London EC2A 2AH.