RF INDUSTRIES, LTD.                                       For Immediate Release
RF Connectors/Neulink/Bioconnect


Investor Contact:                                              Company Contact:
Neil Berkman Associates                                        Howard F. Hill
(310) 277 - 5162                                               President/CEO
info@berkmanassociates.com                                     (858) 549-6340

            RF Industries Repurchases, Retires 752,167 Common Shares
           ----------------------------------------------------------

     SAN DIEGO, CA, May 22, 2003 . . . RF INDUSTRIES,  LTD.,(NASDAQ:RFIL)  today
announced  that on May 13,  2003,  the  Company  entered  into an  agreement  to
repurchase for $3.00 per share, in a single private transaction, a 752,167 share
block of its  common  stock.  These  shares  represent  22% of the total  shares
outstanding  immediately  prior  to the  purchase  and were  owned by a  single,
unaffiliated shareholder.  With the retirement of these shares, the total number
of RFI common shares  outstanding  has been reduced to  approximately  2,650,000
shares.

     "RFI's Board of Directors  authorized  the repurchase of these shares for a
number of  reasons.  First,  retiring  the  stock  reduces  the  share  quantity
outstanding,  raising per share  earnings  approximately  25% and increasing the
value of the stock as a currency for  acquisitions.  This action  increases  the
value of earnings to all  shareholders  and  improves  the  visibility  of RFI's
earnings  growth.  Second,  the purchase  removes the risk that the actions of a
single large individual  shareholder could  significantly  affect the demand and
share price of the Company's  common stock.  Third,  retiring this stock reduces
the dilutive effect of options  previously  granted to management and employees.
Fourth, RFI's strong cash position and cash flow, combined with historically low
interest  rates,  has  significantly  reduced the benefit of holding  large cash
balances," said Howard Hill, President of RF Industries.
     On May 13, 2003, RFI common stock closed at $3.00 per share.
     RFI  reported  cash  and cash  equivalents  exceeding  $4,270,000,  working
capital  of  $9,278,000,  a 19 to 1 current  ratio and  stockholders'  equity of
$9,706,000 at January 31, 2003.

 About RF Industries
----------------------
     RF Industries'  (www.RFIndustries.com)  makes products to connect  wireless
and wired systems.  Coaxial connectors,  cables and wireless modems are integral
components  enabling the receipt and  transmission of high-speed  wireless voice
and data. RF Connectors  designs and  distributes  radio  frequency (RF) coaxial
connectors  and cable  assemblies for PCS,  radio,  test  instruments,  computer
networks and antenna devices. Neulink markets wireless digital data transmission
products  for  industrial  monitoring,  wide area  networks,  GPS  tracking  and
locations systems. BioConnect designs,  manufactures and distributes specialized
electrical cabling and interconnect products to the medical monitoring market.

The statements  contained in this release which are not historical  facts may be
deemed to  contain  forward-looking  statements  with  respect  to  events,  the
occurrence  of  which  involve  risks  and  uncertainties,   including,  without
limitation,  uncertainties  detailed in the  Company's  Securities  and Exchange
Commission filings.

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