-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Se1+yhAUxExKea9sPPAf0ieN79Hi1cVQxwmoQRi8yInolLFkQkzs4Ckg/E/yZ82e
 chqplDpw25mPuqD3fnJLVg==

<SEC-DOCUMENT>0001215272-05-000002.txt : 20050511
<SEC-HEADER>0001215272-05-000002.hdr.sgml : 20050511
<ACCEPTANCE-DATETIME>20050511154642
ACCESSION NUMBER:		0001215272-05-000002
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050509
FILED AS OF DATE:		20050511
DATE AS OF CHANGE:		20050511

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			REFAC
		CENTRAL INDEX KEY:			0000082788
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				131681234
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE BRIDGE PLAZA
		STREET 2:		SUITE 550
		CITY:			FORT LEE
		STATE:			NJ
		ZIP:			07024-7102
		BUSINESS PHONE:		2015850600

	MAIL ADDRESS:	
		STREET 1:		ONE BRIDGE PLAZA
		STREET 2:		SUITE 550
		CITY:			FORT LEE
		STATE:			NJ
		ZIP:			07024-7102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	REFAC TECHNOLOGY DEVELOPMENT CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RESOURCES & FACILITIES CORP
		DATE OF NAME CHANGE:	19740509

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	REFAC INC
		DATE OF NAME CHANGE:	19720628

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HOFFMAN MARK S
		CENTRAL INDEX KEY:			0001215272

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12776
		FILM NUMBER:		05820718

	BUSINESS ADDRESS:	
		STREET 1:		PALISADE CAPITAL
		STREET 2:		ONE BRIDGE PLAZA NORTH STE 695
		CITY:			FORT LEE
		STATE:			NJ
		ZIP:			07024
		BUSINESS PHONE:		2015857733
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-05-09</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0000082788</issuerCik>
        <issuerName>REFAC</issuerName>
        <issuerTradingSymbol>REF</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001215272</rptOwnerCik>
            <rptOwnerName>HOFFMAN MARK S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PALISADE CAPITAL MANAGEMENT</rptOwnerStreet1>
            <rptOwnerStreet2>ONE BRIDGE PLAZA</rptOwnerStreet2>
            <rptOwnerCity>FORT LEE</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07024</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Former Director</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <remarks>Mr. Hoffman is no longer subject to the filing requirements of Section 16 as he resigned from the Board of Directors of Refac, effective May 9, 2005.</remarks>

    <ownerSignature>
        <signatureName>Mark S. Hoffman</signatureName>
        <signatureDate>2005-05-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----