Investor Relations| P & F INDUSTRIES, INC. ANNOUNCES STOCK REPURCHASE AUTHORIZATION

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Lippert/Heilshorn & Assoc., Inc.
Harriet Fried/Klea Theoharis
Investors Relations
212-838-3777
klea@lhai.com or www.lhai.com

P & F INDUSTRIES, INC. ANNOUNCES STOCK REPURCHASE AUTHORIZATION

FARMINGDALE, NY, JUNE 30, 2000 - P & F Industries, Inc. (Nasdaq: PFIN) , today announced that its Board of Directors has authorized the repurchase of up to 180,000 shares of its common stock. The stock repurchase will be made over the next twelve months at the discretion of management.

Richard Horowitz, Chairman, President and CEO of P&F Industries, commented, "We believe that the repurchase of the Company's shares is an excellent use of our cash and is in the best interests of our shareholders."

P & F Industries, Inc., through its three wholly owned subsidiaries, Florida Pneumatic Manufacturing Corporation, Green Manufacturing, Inc. and Embassy Industries, Inc. manufactures and/or imports air-powered tools, hydraulic cylinders, baseboard and radiant heating products. The Company also imports various security hardware items and compressor air filters, markets a line of pipe-cutting and threading tools and makes heavy-duty pipe wrenches. P&F's products are sold under their own trademarks as well as under the private labels of major manufacturers and retailers.

This is a "Safe-Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based upon the Company's historical performance and on current plans, estimates and expectations. Forward-looking statements speak only as of the date on which they are made, and the company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

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