Investor Relations| P & F INDUSTRIES, INC. ANNOUNCES REDEMPTION OF PREFERRED STOCK

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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 REDEMPTION OF PREFERRED STOCK

Farmingdale, New York, December 26, 1996 - P & F Industries, Inc. (Nasdaq NM: PFINA) today announced that it would redeem all of the 263,345 shares of the Company's $1.00 Cumulative Preferred Stock (ticker symbol: PFINP) on January 30, 1997, at a price of $10.00 per share. In addition, the Company has declared an interim dividend of $.083 per share of the preferred stock, payable on January 30, 1997, to holders of record on January 28, 1997.

The redemption will be funded by the Company's cash flow.

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