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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001178913-04-000429.txt : 20040402
<SEC-HEADER>0001178913-04-000429.hdr.sgml : 20040402
<ACCEPTANCE-DATETIME>20040402062108
ACCESSION NUMBER:		0001178913-04-000429
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040402
FILED AS OF DATE:		20040402

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAMTEK LTD
		CENTRAL INDEX KEY:			0001109138
		STANDARD INDUSTRIAL CLASSIFICATION:	OPTICAL INSTRUMENTS & LENSES [3827]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30664
		FILM NUMBER:		04711202

	BUSINESS ADDRESS:	
		STREET 1:		INDUSTRIAL ZONE PO BOX 631
		STREET 2:		MIGDAL HAEMEK 011-972-6-644-0521
		CITY:			ISRAEL 10556
		STATE:			L3
		ZIP:			00000

	MAIL ADDRESS:	
		STREET 1:		INDUSTRIAL ZONE
		STREET 2:		MIGDAL HAEMEK ISREAL
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d40629.htm
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     <!-- Control Number: 40629                                                            -->
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     <!-- Client Name:    Camtek Ltd                                                       -->
     <!-- Project Name:   6-K                                                              -->
     <!-- Firm Name:      Zadok-Keinan Ltd                                                 -->
     <TITLE>6-K</TITLE>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>UNITED STATE</FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=4>SSECURITIES
AND EXCHANGE COMMISSION </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>Washington, D.C. 20549 </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>FORM 6-K </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Report of Foreign
Private Issuer <BR>Pursuant to Rule 13a-16 or 15d-16 <BR>
under the Securities
Exchange Act of 1934 </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>For the Month of March
2004 </FONT></H1>

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<p ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="5"><B>CAMTEK LTD.</B> </FONT> <BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Translation of
Registrant&#146;s Name into English) </FONT></P>

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<p ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B>Ramat Gavriel
Industrial Zone <BR>
P.O. Box 544 <BR>
Migdal Haemek 23150 <BR>
ISRAEL </B></FONT> <BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Address of Principal Corporate
Offices) </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Indicate by check mark whether the
registrant files or will file annual reports under cover of Form 20-F or Form 40-F. </FONT></P>

<P align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form 20-F <FONT size="3" face="Wingdings">x</font>
&nbsp;&nbsp;&nbsp;&nbsp;Form 40-F <FONT size="3" face="Wingdings">o
</font> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Indicate by check mark whether the
registrant by furnishing the information contained in this Form is also thereby furnishing
the information to the Commission pursuant to Rule 12g3-2(b) under the Securities and
Exchange Act of 1934. </FONT></P>

<P align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Yes <FONT size="3" face="Wingdings">o
</font>          No <FONT size="3" face="Wingdings">x</font> </FONT></P>




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<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Attached hereto as Exhibit 99.1 and
incorporated by reference herein is a press release of the <BR>registrant, dated March 31,
2004, announcing <B>SETTLEMENT<BR>
REACHED WITH ISRAELI
TAX AUTHORITIES </b></FONT></p>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURE </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized. </FONT></P>





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<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>CAMTEK LTD.</U><BR>
(Registrant)<BR><BR>
<BR>BY: /S/ MOSHE AMIT<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Moshe Amit,<BR><I>Executive Vice President and<BR>
Chief Financial Officer </I></FONT></TD>
</TR>
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<BR>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dated: March 31, 2004 </FONT></P>

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<font size=2>3</font></p>
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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Exhibit
99.1</B> </FONT></P>

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<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>March
31, 2004 </FONT></P>

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<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FOR IMMEDIATE RELEASE </FONT></P>


<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">CAMTEK CONTACT:<BR>
Moshe Amit<BR>
+972-4-604-8308<BR>
+972-4-604 8300 (fax)<BR>
<U>mosheamit@camtek.co.il</U><BR> </FONT>
</P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CAMTEK LTD. ANNOUNCES
SETTLEMENT <BR>REACHED WITH ISRAELI TAX AUTHORITIES </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MIGDAL HA&#146;EMEK, Israel &#150;
March 31, 2004 &#150; Camtek Ltd. (NASDAQ:CAMT) today announced that a settlement has been
reached with the Israeli tax authorities over disputed assessments for the 1999, 2000 and
2001 tax years. Under the settlement reached, Camtek will pay a total of approximately
$685,000 (inclusive of all interest and currency linkage differentials) to settle
approximately $6.7 million in assessments previously demanded by the Israeli tax
authorities with respect to the 1999-2001 tax years. In addition, Camtek will continue to
calculate its applicable tax benefits for the subsequent years of the Israeli tax benefits
program in which it currently participates (2002-2007) at the rates previously disputed by
the Israeli tax authorities. The settlement amount will result in a one-time provision for
income taxes of approximately $460,000 in the first quarter of 2004, in addition to the
$225,000 that was reserved for this purpose in the fourth quarter of 2003. <BR>
<BR>&#147;We are
very pleased,&#148; said Rafi Amit, Camtek&#146;s Chief Executive Officer, &#147;to have
reached an agreement with the Israeli tax authorities and thus laid to rest any concerns
about the large amounts originally demanded for the 1999, 2000 and 2001 tax years. This
settlement is particularly positive for Camtek, as it confirms our applicable tax benefits
in question for subsequent tax years through 2007.&#148; </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ABOUT CAMTEK LTD. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>With headquarters in Migdal
Ha&#146;Emek Israel, Camtek Ltd., designs, develops, manufactures, and markets automatic
optical inspection systems and related products. Camtek&#146;s automatic inspection
systems are used to enhance both production processes and yield for manufacturers in the
printed circuit board industry, the high density interconnect substrate industry and the
semiconductor manufacturing and packaging industry. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
press release may contain projections or other forward-looking statements regarding future
events or the future performance of the Company. These statements are only predictions and
may change as time passes. We do not assume any obligation to update that information.
Actual events or results may differ materially from those projected, including as a result
of changing industry and market trends, reduced demand for our products, the timely
development of our new products and their adoption by the market, increased competition in
the industry, price reductions as well as due to risks identified in the documents filed
by the Company with the SEC. </FONT></P>


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