Camtek (CAMT)

Competition

        The markets in which we operate are highly competitive. In the PCB industry, our principal competitor is Orbotech Ltd., with additional competitors including Dainippon Screen, Lloyd-Doyle, Gigavis and local AOI vendors in China and Taiwan. Our competitors in the IC substrate industry include Orbotech Ltd., Dainippon Screen, ATI, Shirai, Utechzone and Gigavis. In the semiconductor manufacturing and packaging industry, our primary competitor is Rudolph Technologies Inc. (which purchased the IP and bumped wafer inspection line of RVSI), with additional competitors including KLA-Tencor (through acquisition of 96% ownership in ICOS), Zygo (through acquisition of Solvision) and several Japanese competitors whom we face mostly in Japan – Topcon, Toray, Hitachi and Tosok.

        We believe that the principal elements of a sustainable competitive advantage in the AOI market are:

        We believe that we compete effectively on all of these factors.

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Competition

          The markets in which we operate are highly competitive. In the PCB industry, our principal competitor is Orbotech Ltd., with additional competitors including Dainippon Screen, Lloyd-Doyle, ManiaBarco, Shirai and Utechzone. Our competitors in the IC substrate industry include Orbotech Ltd., Dainippon Screen, ATI and Utechzone. In the semiconductor manufacturing and packaging industry, our primary competitor is Rudolph Technologies Inc. (which purchased the IP and bumped wafer inspection line of RVSI), with additional competitors including KLA-Tencor (through acquisition of 96% ownership in ICOS), Zygo (through acquisition of Solvision) and several Japanese competitors whom we face mostly in Japan - Topcon, Toray, Hitachi and Tosok.

          We believe that the principal elements of a sustainable competitive advantage in the AOI market are:

          We believe that we compete effectively on all of these factors.

24

Competition

          The markets in which we operate are highly competitive. In the PCB industry, our principal competitor is Orbotech, with additional competitors including Dainippon Screen, Lloyd Doyle and ManiaBarco. Our competitors in the HDI-S industry include Dainippon Screen, Orbotech, ATI and Utechzone. In the semiconductor manufacturing and packaging industry, our primary competitor is August Technology (merged into Rudolph Technology in February 2006), with additional competitors including Robotic Vision Systems, Topcon, Toray Industries, Hitachi, Icos, Tosko and Solvision.

          We believe that the principal elements of a sustainable competitive advantage in the AOI market are:

20

Competition

          The markets in which we operate are highly competitive. In the PCB industry, our principal competitor is Orbotech, with additional competitors including Dainippon Screen, Lloyd Doyle and ManiaBarco. Our competitors in the HDI-S industry include Dainippon Screen, Orbotech and Utechzone. In the semiconductor manufacturing and packaging industry, our primary competitor is August Technology, with additional competitors including Robotic Vision Systems, Topcon and Toray Industries.

          We believe that the principal elements of competition in the AOI market are:

          We believe that we compete effectively on all of these factors.