| RF INDUSTRIES, LTD.                                                                | For Immediate Release |
|------------------------------------------------------------------------------------|-----------------------|
|                                                                               |
| RF Connectors/Cable Assembly/RF Wireless                                           |
|                                                                               |                  |   |
| Investor Contact:Neil Berkman Associates(310) 826 - 5051info@berkmanassociates.com |                  | Company Contact:Howard Hill, President(858) 549-6340rfi@rfindustries.com |

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|                                               |   | Three Months Ended |      |
|----------------------------------------------------|--------|------------------------------|-----------|
|                                               |   | January 31,             |      |
|                                               |   | 2011                         |      |   | 2010 |   |
| Net sales                                     |   | $                            | 4,140     |   |   | $ | 3,313 |   |
| Cost of sales                            |   |                         | 1,970     |   |   |   | 1,683 |   |
|                                               |   |                         |      |   |   |   |   |   |
| Gross profit                                  |   |                         | 2,170     |   |   |   | 1,630 |   |
|                                               |   |                         |      |   |   |   |   |   |
| Operating expenses:                           |   |                         |      |   |   |   |   |   |
| Engineering                                        |   |                         | 296       |   |   |   | 194 |   |
| Selling and general                      |   |                         | 1,346     |   |   |   | 1,218 |   |
|                                               |   |                         |      |   |   |   |   |   |
| Total operating expenses                 |   |                         | 1,642     |   |   |   | 1,412 |   |
|                                               |   |                         |      |   |   |   |   |   |
| Operating income                              |   |                         | 528       |   |   |   | 218 |   |
|                                               |   |                         |      |   |   |   |   |   |
| Interest income                               |   |                         | 11        |   |   |   | 26 |   |
|                                               |   |                         |      |   |   |   |   |   |
| Income before taxes                      |   |                         | 539       |   |   |   | 244 |   |
|                                               |   |                         |      |   |   |   |   |   |
| Provision for income taxes          |   |                         | 188       |   |   |   | 101 |   |
|                                               |   |                         |      |   |   |   |   |   |
| Net income                                    |   | $                            | 351       |   |   | $ | 143 |   |
|                                               |   |                         |      |   |   |   |   |   |
| Earnings per share:                      |   |                         |      |   |   |   |   |   |
| Basic                                              |   | $                            | 0.12      |   |   | $ | 0.05 |   |
| Diluted                                            |   | $                            | 0.10      |   |   | $ | 0.05 |   |
|                                               |   |                         |      |   |   |   |   |   |
| Weighted average shares outstanding |   |                         |      |   |   |   |   |   |
| Basic                                              |   |                         | 2,949,703 |   |   |   | 2,848,773 |   |
| Diluted                                            |   |                         | 3,399,885 |   |   |   | 3,179,413 |   |
|                                               |   |                         |      |   |   |   |   |   |
| Dividends paid                                |   |                         | 85        |   |   |   | — |   |

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|                                                                                                                        |   | Jan. 31, |    |   | Oct. 31, |   |
|-----------------------------------------------------------------------------------------------------------------------------|--------|---------------|---------|--------|---------------|--------|
|                                                                                                                        |   | 2011          |    |   | 2010          |   |
| ASSETS                                                                                                                      |   |          |    |   |          |   |
|                                                                                                                        |   |          |    |   |          |   |
| CURRENT ASSETS:                                                                                                             |   |          |    |   |          |   |
| Cash and cash equivalents                                                                                                   |   | $             | 4,608   |   |          | $      | 4,729 |   |
| Certificates of deposit                                                                                                     |   |          | 4,177   |   |          |   | 4,578 |   |
| Trade accounts receivable, net                                                                                              |   |          | 2,207   |   |          |   | 2,558 |   |
| Inventories                                                                                                                 |   |          | 5,035   |   |          |   | 4,608 |   |
| Other current assets                                                                                                        |   |          | 530     |   |          |   | 448 |   |
| Deferred tax assets                                                                                                         |   |          | 613     |   |          |   | 613 |   |
|                                                                                                                        |   |          |    |   |          |   |   |   |
| TOTAL CURRENT ASSETS                                                                                                        |   |          | 17,170  |   |          |   | 17,534 |   |
|                                                                                                                        |   |          |    |   |          |   |   |   |
| Property and equipment, net                                                                                                 |   |          | 501     |   |          |   | 530 |   |
| Long term certificates of deposit                                                                                           |   |          | 1,447   |   |          |   | 946 |   |
| Note receivable from stockholder                                                                                            |   |          | 67      |   |          |   | 67 |   |
| Other assets                                                                                                                |   |          | 32      |   |          |   | 32 |   |
|                                                                                                                        |   |          |    |   |          |   |   |   |
| TOTAL ASSETS                                                                                                                |   | $             | 19,217  |   |          | $      | 19,109 |   |
|                                                                                                                        |   |          |    |   |          |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                        |   |          |    |   |          |   |   |   |
|                                                                                                                        |   |          |    |   |          |   |   |   |
| CURRENT LIABILITIES:                                                                                                        |   |          |    |   |          |   |   |   |
| Accounts payable                                                                                                            |   | $             | 376     |   |          | $      | 538 |   |
| Accrued expenses                                                                                                            |   |          | 1,173   |   |          |   | 1,217 |   |
| Income taxes payable                                                                                                        |   |          | — |   |          |   | 124 |   |
|                                                                                                                        |   |          |    |   |          |   |   |   |
| TOTAL CURRENT LIABILITIES                                                                                                   |   |          | 1,549   |   |          |   | 1,879 |   |
|                                                                                                                        |   |          |    |   |          |   |   |   |
| Deferred tax liabilities                                                                                                    |   |          | 19      |   |          |   | 19 |   |
| Other long-term liabilities                                                                                                 |   |          | 292     |   |          |   | 297 |   |
|                                                                                                                        |   |          |    |   |          |   |   |   |
| TOTAL LIABILITIES                                                                                                           |   |          | 1,860   |   |          |   | 2,195 |   |
|                                                                                                                        |   |          |    |   |          |   |   |   |
| COMMITMENTS AND CONTINGENCIES                                                                                               |   |          |    |   |          |   |   |   |
|                                                                                                                        |   |          |    |   |          |   |   |   |
| STOCKHOLDERS' EQUITY:                                                                                                       |   |          |    |   |          |   |   |   |
| Common stock - authorized 100,000,000 shares of $0.01 par value; 2,973,759 and 2,930,882 shares issued and outstanding |   |          | 30      |   |          |   | 29 |   |
| Additional paid-in capital                                                                                                  |   |          | 7,322   |   |          |   | 7,026 |   |
| Retained earnings                                                                                                           |   |          | 10,005  |   |          |   | 9,859 |   |
|                                                                                                                        |   |          |    |   |          |   |   |   |
| TOTAL STOCKHOLDERS' EQUITY                                                                                                  |   |          | 17,357  |   |          |   | 16,914 |   |
|                                                                                                                        |   |          |    |   |          |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                  |   | $             | 19,217  |   |          | $      | 19,109 |   |

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