[Shiboleth, Yisraeli, Roberts, Zisman & Co. letterhead]

                              Tel Aviv, May 7, 2001

Camtek Ltd.
P.O. Box 631
Migdal Haemek, 10556
Israel

      Re:   Camtek Ltd. - Registration Statement on Form S-8
            for the Registration of an Aggregate of 200,000
            Ordinary Shares

Ladies and Gentlemen:

      We have acted as counsel to Camtek Ltd., an Israeli company (the
"Company"), in connection with the registration on Form S-8 (the "Registration
Statement") under the Securities Act of 1933, as amended, of an aggregate of
200,000 Ordinary Shares (the "Shares") authorized for issuance under the
Company's Employee Share Option Plan - Israel, the Subsidiary Employee Option
Plan, the Employee Share Option Plan - Europe and the Executive Share Option
Plan (the "Plans").

      This opinion is being furnished in accordance with the requirements of
Item 8 of Form S-8 and Item 601(b)(5)(i) of Regulation S-K.

      In our capacity as your counsel in connection with your preparation and
filing of the Registration Statement, we have examined the Company's Articles of
Association, the Plans, and protocols of meetings of the board of directors of
the Company and its shareholders with respect to the Plans and the allocation of
options to employees under the Plans, which were presented to us by the Company.
We have assigned that the Company presented to us all such protocols relating to
or having any bearing on the Plans.

      In connection with the authorization, issuance and sale of the Shares
pursuant to the Plans, and for purposes of this opinion, we have assumed,
without having conducted any independent investigation or verification, that the
documents we examined are in full force and effect and have not been amended or
otherwise modified and that all actions, resolutions, documents and other
instruments required under the Plans and all related documents have been and
shall be, with regard to future actions, duly and validly taken by the Company
and authorized by all relevant persons and entities and have been or shall be
duly, validly and timely completed in the manner required both with regard to
their adoption procedures and to their contents. In our examination, we have
assumed the genuineness of all signatures, the legal capacity of all natural
persons, the correctness and completeness of certificates of public officials
and the representations set forth therein, the authenticity of all documents
submitted to us as originals and the conformity to authentic original documents
of all documents submitted to us as copies.


      We are opining herein as to the effect on the subject transaction only of
the internal laws of the State of Israel, and we express no opinion with respect
to the applicability thereto, or the effect thereon, of the laws of any other
jurisdiction.

      Subject to the foregoing, we are of the opinion that, if, as and when the
Shares have been issued by the Company (and the consideration therefor received)
pursuant to the provisions of option agreements duly authorized under the Plans,
such Shares will be duly authorized, legally issued, fully paid and
nonassessable.

      We consent to the filing of this opinion letter as Exhibit 5 to the
Registration Statement.

      This opinion letter is rendered as of the date first written above and we
disclaim any obligation to advise you of facts, circumstances, events or
developments, including, without limitation, in the law, which hereafter may be
brought to our attention and which may alter, affect or modify the opinion
expressed herein. Our opinion is expressly limited to the matters set forth
above and we render no opinion, whether by implication or otherwise, as to any
other matters relating to the Company, the Plans or the Shares.

                                   Very truly yours,


                                   /s/ Shiboleth, Yisraeli, Roberts, Zisman & Co
                                   ---------------------------------------------
                                   Shiboleth Yisraeli, Roberts, Zisman & Co.,
                                   Advocates & Notary