Investor Relations| P & F INDUSTRIES REPORTS FOURTH QUARTER AND YEAR-END 2001 RESULTS

Press Releases

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

P & F INDUSTRIES REPORTS FOURTH QUARTER AND YEAR-END 2001 RESULTS

FARMINGDALE, N.Y. - May 3, 2002 - P&F Industries, Inc., (Nasdaq NM: PFIN) expects to release its first quarter 2002 results before the market opens on Wednesday, May 8, 2002. The company has scheduled a conference call for 11:00 a.m. Eastern Time the same day.

The dial-in number for the conference call is 212-896-6111. A replay of the call is also available for 24 hours beginning at 1:00 p.m. on May 8, and can be accessed by dialing 800-633-8284, access code 20545860.

A live webcast of the conference call will be broadcast at our web site, www.pfina.com. For those who cannot listen to the live broadcast, an audio replay of the call will be available on the P&F Industries site.

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.

P&F Industires, Inc. make available forms & documents which are available for download. These forms & documents are in Adobe® PDF (portable document file) format. In order to view these forms & documents, you must have Adobe® Acrobat® 7 Reader. If you don't have the reader, you can download it for free from Adobe® by clicking here or on the "Get Acrobat® Reader" icon below.

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