Interim Results

JETCAM INTERNATIONAL HOLDINGS LIMITED
30 September 1999


            JETCAM INTERNATIONAL HOLDINGS LIMITED
                 ('JETCAM' or 'the Company')
                              
           Unaudited Consolidated Interim results
       for the six month period ended 30th June, 1999

                    CHAIRMAN'S STATEMENT

This  is my first report as Chairman of the Board, since  my
appointment to that position on 18th June, 1999.

I  am pleased to report that in the six months to 30th June,
1999  the  Group made a profit before taxation of  £300,000.
Sales  for  the  period  were  £902,000  (year  ended   31st
December,  1998  -  £1,635,000), although comparable  profit
figures are not available.  Earnings per share were 1.7p.

The  Board is pleased to announce the first interim dividend
for JETCAM as a public company of 0.8p per share payable  to
those  shareholders on the register on 15th  October,  1999.
This  represents  a  7 per cent. increase  in  the  notional
interim   dividend  for  1998  set  out  in  the   Company's
prospectus published in May this year on admission to AIM.

Although  the  figures for the year ended 31st December,1999
are shown, they do not give a meaningful comparison with the
interim figures now presented to you.  These have borne  the
increased costs associated with AIM status and the costs  of
expanding our marketing team and of developing new  products
in-house,  which were charged against revenue in the  period
under  review.   The benefits of the marketing  effort  have
only  begun  to show positive results since the end  of  the
period  under review and the new products are  not  due  for
release  until  the last quarter of this  year.   For  these
reasons,  the  Directors continue to expect  a  satisfactory
result for the year as a whole.

Following  the  Company's flotation in May, it  has  rapidly
adapted  to  its  AIM  listed status,  and  taken  steps  to
implement  the  initiatives  that  were  described  in   the
prospectus.  Notably, a new marketing  department  has  been
created  to  assist  in  the  development  of  the  reseller
network,  to  generate increased market  visibility  and  to
ensure  that  our internet trading opportunities  are  fully
optimised. The Company expects that this, combined with  new
product  launches  and major enhancements  to  our  existing
product range will have a positive impact on performance  in
the second half of the year.

As  explained in the prospectus, one of the main reasons for
the   flotation   was  to  enable  your  Company   to   make
acquisitions  and to take a lead in the consolidation  of  a
fragmented  industry. I am delighted to announce, therefore,
that the Company has entered into a conditional agreement to
acquire   Camtek   Limited  ('Camtek')  and   a   prospectus
containing  further details of the acquisition  and  setting
out  the terms of the placing and open offer is being posted
to  shareholders  today.  Camtek  is  a  company  which  has
established a strong reputation in the market place and  has
a  history  of developing high quality products. Your  Board
believes that its acquisition will facilitate the growth  of
the  group  through  increased  market  share  and  improved
profitability.

I  believe  JETCAM  is now firmly established  as  a  market
leader and would like to take this opportunity to thank  the
Board  and the staff for their support and commitment during
this period of transition in your Company's history.

George Kynoch
Chairman

UNAUDITED CONSOLIDATED PROFIT AND LOSS ACCOUNT
Six months ended 30th June, 1999
(expressed in Pounds Sterling)

                                        Six            Year
                                     months
                                      ended           ended
                                  30th June            31st
                                                   December
                                       1999            1998
                                 (unaudited)       (audited)
                                      £'000           £'000
                                                     
TURNOVER                                902           1,635
                                               
Cost of sales                          (47)             (63)
                                               
                                               
GROSS PROFIT                           855            1,572
                                               
Administrative expenses               (555)            (747)
                                               
                                               
OPERATING PROFIT                       300              825
                                               
                                               
PROFIT ON ORDINARY ACTIVITIES                  
BEFORE TAXATION                       300               825
                                               
Taxation                                -                -
                                               
                                               
PROFIT FOR THE PERIOD                 300               825
                                               
Dividend paid                          -               (939)
                                               
                                               
RETAINED PROFIT FOR THE              300               (114)
PERIOD
                                               
                                               
Earnings per share (pence)           1.7p               4.7p 
                                               
                                               
                                               
STATEMENT OF TOTAL RECOGNISED                  
GAINS AND LOSSES
                                               
Profit for the financial            300                (114)
period
Currency translation                 22                  (8)
difference
                                               
                                               
Total gains and losses                         
recognised since
last annual report                  322                (122)
                                               
                                               



UNAUDITED CONSOLIDATED BALANCE SHEET
At 30th June, 1999
(expressed in Pounds Sterling)

                         30th June 1999    31st December 1998
                           (unaudited)         (audited)
                         £'000      £'000    £'000      £'000
FIXED ASSETS                                            
Tangible assets                       121                  57
                                                    
CURRENT ASSETS                                      
Trade debtors             570                 536      
Other debtors              96                  11       
Prepayments and            45                  31       
accrued income
Cash at bank and in       303                  39       
hand
                                                    
                                                    
                        1,014                 617      
                                                    
                                                    
CREDITORS:  AMOUNTS                                 
FALLING
DUE WITHIN ONE YEAR                                 
Trade creditors          (24)                (11)     
Accruals and deferred   (174)                (87)     
income
                                                    
                                                    
                        (198)                (98)     
                                                    
                                                    
                                   816                     519
                                                    
                                                    
NET CURRENT ASSETS                 937                     576
                                                    
                                                    
CAPITAL AND RESERVES                                
Called up share                    113                      -
capital
Contributed surplus                 36                      -
Profit and loss                    788                    576
account
                                                    
                                                    
EQUITY SHAREHOLDERS'               937                   576
FUNDS
                                                    
Notes

1.   Results
     The  six  months  results have  been  prepared  on  the
     historical cost basis.  They are unaudited and  do  not
     constitute  statutory accounts within  the  meaning  of
     section 240 of the Companies Act 1985.  The acquisition
     of  JETCAM International Limited in May 1999  has  been
     accounted   for   by  using  merger   accounting.    No
     comparative information for the six months  ended  30th
     June, 1998 is available.

2.   Accounts
     The  figures for the year to 31st December,  1998  have
     been  extracted from the statutory accounts  of  JETCAM
     International  Limited  which received  an  unqualified
     audit  report and have been delivered to the  Registrar
     of Companies in Bermuda.

3.   Dividends
     An  interim dividend of 0.8p per ordinary share will be
     paid  on  5th  November, 1999 to  shareholders  on  the
     register on 15th October, 1999.

4.   Earnings per share
     Earnings  per  ordinary share have been  calculated  on
     profit  attributable to members of the holding  company
     and  on  17,739,000 (31st December, 1998 -  17,600,000)
     ordinary  shares being the weighted average  number  of
     ordinary  shares  in issue throughout  the  six  months
     ended 30th June, 1999, assuming that the acquisition of
     JETCAM  International Limited had been effected at  the
     beginning of the period.

5.   Copies   of  this  report  are  to  be  sent   to   all
     shareholders   and   are   available   from    Cornhill
     Secretaries Limited, 1 Snow Hill, London EC1A 2EN.


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