Camtek Ltd. — Audit Report / Information 2007

Nov 28, 2007

The Company's parent Company, Priortech Ltd ("Priortech"), which is a publicly traded company on the Tel-Aviv Stock Exchange, is required to implement, as of January 1, 2007, a new accounting standard (Accounting Standard No. 30 of the Israel Accounting Standard Board which was published in March 2007 (the "Standard")).

Details regarding the Standard and its implementation, as reflected on Priortech's consolidated statements for March 31st and June 30th, 2007, were given in the Company's two previous reports concerning the Standard, dated June 3rd and September 3rd, 2007.

The net amount of capitalized development expenses reflected on Priotech's consolidated statement for September 30, 2007 is NIS 22,067 thousands or US$ 5,509 thousands.

Another item of disclosure on Priortech's reports reflects the fact that on March 31st, 2007, Camtek opened forward positions in US Dollars on the NIS exchange rate. The opened forward positions as of September 30th, 2007, are displayed in the following table:

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Amount	Repayment date	Transaction date	Exchange Rate NIS/US$	Fair Value
$500,000	26.10.07	08.05.07	3.95	NIS 6,397
$500,000	27.11.07	08.05.07	3.95	NIS 12,541
$500,000	24.12.07	08.05.07	3.95	NIS 17,087
$500,000	24.12.07	07.06.07	4.3	(NIS 766)
$500,000	24.12.07	07.06.07	4	NIS 27,581
$500,000	24.12.07	09.05.07	3.95	(NIS 17,075)

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