The application of pulsed 1asers for vaporization (ablation) of solid targets appears to be the most natural way to produce high purity fluxes of atoms/ions suitabłe for epitaxial growth of thin fiłms. Since the early 1960's this unique approach has been the subject of steadily growing interest in the deposition of metals, dielectrics, semiconductors and since 1987, high-Tc superconductors. Laser induced target surface morphology changes, properties of laser induced vapours and pulsed deposition rate associated with the use of a pulsed 1aser for vacuum epitaxy are discussed. A pulsed 1aser evaporation and epitaxy (PLEE) system is described and the results of PLEE application for the growth of Cd1-x M n x T e a n d C d T e -C d 1 -x M n x T e quantum well and superlattice structures are reviewed. Feasibility of PLEE in bandgap engineering is also discussed.