Investor Relations| P & F Industries, Inc. (Nasdaq NM: PFINA) announced today that it had completed the sale of its real estate holdings in New Hyde Park...

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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. (Nasdaq NM: PFINA) announced today that it had completed the sale of its real estate holdings in New Hyde Park...

Farmingdale, New York, August 25, 1997 , - P & F Industries, Inc. (Nasdaq NM: PFINA) announced today that it had completed the sale of its real estate holdings in New Hyde Park, New York to Cambridge Leasing Corporation. The purchaser is an affiliate of the current lessee, Triangle Sheet Metal Works, Inc. which has leased the property since 1994, when P & F divested itself of the assets of its sheet metal contracting subsidiary.

"The sale of the building is the final chapter in the divestiture of Triangle," said Richard Horowitz, Chairman of the Board of Directors of P & F. "One result of the sale is the elimination of approximately $1.8 million of mortgage debt carried on our balance sheet."

P & F Industries, Inc., through its two wholly-owned subsidiaries, manufactures and imports air-powered tools, manufactures baseboard and radiant heating products, manufactures and imports various hardware items and compressor air filters, markets a line of pipe cutting and threading tools and manufactures heavy-duty pipe wrenches.

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