Investor Relations| P&F INDUSTRIES TO REPORT SECOND-QUARTER RESULTS ON AUGUST 14, 2002

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 TO REPORT SECOND-QUARTER RESULTS ON AUGUST 14, 2002

FARMINGDALE, N.Y. ? August 12, 2002 ? P&F Industries, Inc., (Nasdaq NM: PFIN) expects to release its second-quarter-2002 results before the market opens on Wednesday, August 14, 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 703-871-3026. A replay of the call is also available for 24 hours beginning at 2:00 p.m. on August 14, and can be accessed by dialing 888-266-2081, access code 6155450.

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 four wholly-owned subsidiaries, Florida Pneumatic Manufacturing Corporation, Green Manufacturing, Inc., Embassy Industries, Inc. and Countrywide Hardware, Inc., manufactures and/or imports air-powered tools, hydraulic cylinders, baseboard and radiant heating products, as well as residential and commercial hardware. 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.

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