Investor Relations| P&F INDUSTRIES, INC. RESCHEDULES REPORTING OF FIRST QUARTER 2007

Press Releases

Lippert/Heilshorn & Assoc., Inc.
Jody Burfening
Investors Relations
212-838-3777
jburfening@lhai.com or www.lhai.com

P&F INDUSTRIES, INC. RESCHEDULES REPORTING OF FIRST QUARTER 2007

MELVILLE, N.Y. ? May 8, 2007 ? P&F Industries, Inc. (?P&F? or the ?Company?) (Nasdaq GM: PFIN) today announced that it is rescheduling its first quarter 2007 earnings release and conference call. The Company requires additional time to compile the requisite financial data to finalize the audit of the opening balance sheet of Hy-Tech Machine, Inc., which was acquired on February 12.
 
P&F will now release its earnings before the market opens on May 14, 2007 and hold a conference call at 11:00 am Eastern that same day. The Company plans to file its Form 10-Q for the quarter ended March 31 on a timely basis by May 15.
 
The dial-in number for the conference call is 877-278-2335. A replay of the call will also be available through May 21, beginning at 2:00 p.m. on May 14, and can be accessed by dialing 800-642-1687 or 706-645-9291, conference ID # 7907450.
 
About P&F Industries, Inc.
 
P&F Industries, Inc., through its three wholly-owned operating subsidiaries, Florida Pneumatic Manufacturing Corporation, Continental Tool Group, Inc. and Countrywide Hardware, Inc., manufactures and/or imports air-powered tools sold principally to the industrial, retail and automotive markets, as well as various residential hardware such as staircase components, kitchen and bath hardware, fencing hardware and door and window hardware. P&F?s products are sold under their own trademarks, as well as under the private labels of major manufacturers and retailers.
 
Statements in this press release may contain ?forward-looking statements? within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These statements are based on management?s current expectations and are subject to uncertainty and changes in circumstances. These statements involve risks and uncertainties that could cause actual results to differ materially from those included in forward-looking statements due to a variety of factors. More information about these factors can be found in P&F?s latest Annual Report filed with Securities and Exchange Commission under Form 10-K. P&F undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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