SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                   FORM 10-QSB

                 Quarterly Report Under Section 13 or 15 (d) of
                         Securities Exchange Act of 1934

                       for Quarter ended January 31, 2003
                         Commission File Number 0-13301

                               RF INDUSTRIES, LTD.

             (Exact name of registrant as specified in its charter)

                                Nevada 88-0168936

          (State of Incorporation) (I.R.S. Employer Identification No.)

        7610 Miramar Road., Bldg. 6000, San Diego, California 92126-4202

               (Address of principal executive offices) (Zip Code)

                        (858) 549-6340 FAX (858) 549-6345

                (Issuer's telephone number, including area code)
        Securities registered pursuant to Section 12(b) of the Act: None.


Check  whether  the issuer  (1) has filed all  reports  required  to be filed by
Section 13 or 15(d) of the Securities  Exchange Act of 1934 during the preceding
12 months (or for such shorter  period that the  registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past
90 days

                                    Yes X    No
                                       ---

State the number of shares outstanding of each of the issuer's classes of common
stock at the latest practicable date.

As of January 31, 2003,  the  registrant  had 3,400,254  shares of Common Stock,
$.01 par value, outstanding.

Transitional small business disclosure format

                                    Yes    No X
                                             ---







<PAGE>



Part I.   FINANCIAL INFORMATION

Item 1: Financial Statements
                                            RF INDUSTRIES, LTD. AND SUBSIDIARY
                                          CONDENSED CONSOLIDATED BALANCE SHEETS


                                                      January 31     October 31
                                                         2003           2002
                                                      ----------     ----------
      ASSETS                                          (Unaudited)
----------------------

CURRENT ASSETS

Cash and cash equivalents ........................    $ 4,272,835    $ 3,939,299

Trade accounts receivable, net of allowance
for doubtful accounts of $96,202 and $84,806 .....      1,111,034      1,146,439

Notes receivable .................................         12,000         12,000

Inventories .... .................................      3,966,092      4,143,617

Other current assets .............................        272,928        169,396

Deferred tax assets ..............................        162,600        162,600
                                                      -----------    -----------
     TOTAL CURRENT ASSETS ........................      9,797,489      9,573,351
                                                      -----------    -----------

PROPERTY AND EQUIPMENT

Equipment and tooling ............................      1,088,748      1,082,813
Furniture and office equipment ...................        251,514        251,514
                                                      -----------    -----------
                                                        1,340,262      1,334,327
     Less accumulated depreciation ...............        940,171        899,504
                                                      -----------    -----------
     Total .......................................        400,091        434,823

Notes receivable from related parties ............         51,910         56,505
Note receivable from stockholder .................         70,000         70,000
Other assets .....................................         14,171         11,471
                                                      -----------    -----------
     TOTAL ASSETS ................................    $10,333,661    $10,146,150

                                                      ===========    ===========



       See Notes to Condensed Consolidated Unaudited Financial Statements.

<PAGE>


Item 1: Financial Statements
                                            RF INDUSTRIES, LTD. AND SUBSIDIARY
                                          CONDENSED CONSOLIDATED BALANCE SHEETS


                                                      January 31     October 31
                                                         2003           2002
                                                      ----------     ----------
                                                      (Unaudited)

Item 1:   Financial Statements (continued)

LIABILITIES AND
STOCKHOLDERS' EQUITY
---------------------------------------

CURRENT LIABILITIES

Accounts payable ...............................   $    267,902    $     70,806

Notes payable ..................................              0          44,582

Accrued expenses ...............................        251,636         327,271
                                                   ------------    ------------
     Total current liabilities .................        519,538         442,659

Deferred tax liabilities .......................        107,800         107,800
                                                   ------------    ------------
     TOTAL LIABILITIES .........................        627,338         550,459
                                                   ------------    ------------
COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY
Common stock - authorized 10,000,000 shares
  of $.01 par value; 3,441,054 shares issued ...         34,410          34,410

Additional paid-in capital .....................      4,695,147       4,695,147

Retained earnings ..............................      5,057,856       4,923,060

Receivables from sales of stock ................         (1,715)         (1,715)

Treasury stock, at cost - 40,800 and

   31,700 shares ...............................        (79,375)        (55,211)

                                                   ------------    ------------

     TOTAL STOCKHOLDERS' EQUITY ................      9,706,323       9,595,691
                                                   ------------    ------------
      TOTAL LIABILITIES AND
        STOCKHOLDERS' EQUITY ...................   $ 10,333,661    $ 10,146,150

                                                   ============    ============





       See Notes to Condensed Consolidated Unaudited Financial Statements.







<PAGE>




Item 1:   Financial Statements (continued)



                       RF INDUSTRIES, LTD. AND SUBSIDIARY
                       CONDENSED CONSOLIDATED STATEMENTS OF
                         INCOME AND COMPREHENSIVE INCOME


<TABLE>
<CAPTION>
                                                             Three Months Ended
                                                                 January 31
                                                           -----------------------
                                                                 (Unaudited)
                                                              2003          2002
                                                           ----------    ---------
INCOME:
<S>                                                        <C>           <C>
Net sales ..............................................   $2,326,876   $2,184,917

Cost of sales ..........................................    1,192,158    1,149,680
                                                           ----------   ----------
    Gross profit .......................................    1,134,718    1,035,237
                                                           ----------   ----------
Operating expenses:
    Engineering ........................................      198,580      164,035
    Selling and general ................................      723,839      769,983
                                                           ----------   ----------
        Totals .........................................      922,419      934,018
                                                           ----------   ----------
Operating income .......................................      212,299      101,219
                                                           ----------   ----------
Other income (expenses):
    Commissions ........................................            0        8,215
    Interest ...........................................       11,497       23,754
                                                           ----------   ----------
         Totals ........................................       11,497       31,969
                                                           ----------   ----------
Income before provision for income taxes ...............      223,796      133,188

Provision for income taxes .............................       89,000       51,000
                                                           ----------   ----------
Net income .............................................   $  134,796   $   82,188
                                                           ==========   ==========
Basic earnings per share ...............................   $     0.04   $     0.02
                                                           ==========   ==========
Diluted earnings per share .............................   $     0.04   $     0.02
                                                           ==========   ==========
Basic weighted average shares outstanding ..............    3,400,254    3,409,354
                                                           ==========   ==========
Diluted weighted average shares outstanding ............    3,650,571    3,843,766
                                                           ==========   ==========

COMPREHENSIVE INCOME:
Net income .............................................   $  134,796   $   82,188

Unrealized gain on available-for-sale securities, net of
 deferred taxes ........................................            0        7,096
                                                           ----------   ----------
      Total comprehensive income                           $  134,796   $   89,284
                                                           ==========   ==========

</TABLE>






       See Notes to Condensed Consolidated Unaudited Financial Statements





<PAGE>




Item 1:    Financial Statements   (continued)


                       RF INDUSTRIES, LTD. AND SUBSIDIARY
                             CONDENSED CONSOLIDATED
                            STATEMENTS OF CASH FLOWS


                                                           Three months ended
                                                               January 31
                                                       ------------------------
                                                               (Unaudited)
                                                          2003            2002
                                                       ----------       --------
OPERATING ACTIVITIES
Net income .......................................   $   134,796    $    82,188
Adjustments to reconcile net income to
     net cash provided by operating activities:
     Provision for bad debts .....................        12,000
     Depreciation and amortization ...............        40,666         41,185
     Amortization of unearned compensation .......                       23,490

Changes in operating assets and liabilities:
     Trade accounts receivable ...................        23,405        (76,656)
      Inventories ................................       177,525        257,048
      Other assets ...............................      (101,637)       (18,566)
      Accounts payable ...........................       197,096        127,752
      Accrued expenses ...........................       (75,635)       (70,224)

                                                     -----------    -----------
      Net cash provided by operating activities ..       408,216        366,217
                                                     -----------    -----------
INVESTING ACTIVITIES
      Investment in available-for-sale securities                       (17,253)

      Capital expenditures .......................        (5,934)        (4,551)
                                                     -----------    -----------
      Net cash used in investing activities ......        (5,934)       (21,804)
                                                     -----------    -----------
FINANCING ACTIVITIES
      Payments on loans payable ..................       (44,582)       (47,500)
      Purchase of treasury stock .................       (24,164)
                                                     -----------    -----------
      Net cash used in  financing activities .....       (68,746)       (47,500)
                                                     -----------    -----------
Net increase in cash and cash equivalents ........       333,536        296,913

Cash and cash equivalents at the beginning of the
 period ..........................................     3,939,299        915,538
                                                     -----------    -----------
Cash and cash equivalents at the end of the period   $ 4,272,835    $ 1,212,451
                                                     ===========    ===========







       See Notes to Condensed Consolidated Unaudited Financial Statements




<PAGE>



                       RF INDUSTRIES, LTD. AND SUBSIDIARY
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Note 1 - Unaudited interim financial statements:

     The accompanying unaudited condensed consolidated financial statements have
     been prepared in conformity with accounting  principles  generally accepted
     in the United States of America for interim financial  information and with
     the instructions to Form 10- QSB.  Accordingly,  they do not include all of
     the information and footnotes required by accounting  principles  generally
     accepted in the United States of America for complete financial statements.
     In the  opinion  of  management,  all  adjustments  (consisting  of  normal
     recurring accruals)  considered necessary for a fair presentation have been
     included. Operating results for the three months ended January 31, 2003 are
     not necessarily indicative of the results that may be expected for the year
     ending October 31, 2003.  The unaudited  condensed  consolidated  financial
     statements should be read in conjunction with the financial  statements and
     footnotes  thereto  included in the Company's  annual report on Form 10-KSB
     for the year ended October 31, 2002.

Note 2 - Components of inventory


                                            January 31    October 31
                                               2003          2002
                                            ----------    ----------
                                           (Unaudited)     (Audited)

                Raw material and supplies   $  602,846   $  655,746
                Finished goods ..........    3,363,246    3,487,871
                                            ----------   ----------
                 Totals .................   $3,966,092   $4,143,617
                                            ==========   ==========



Note 3 - Earnings per share:

     As  further  explained  in Note 1 of the  notes  to the  audited  financial
     statements  of the  Company,  included  in Form  10-KSB for the fiscal year
     ended  October 31, 2002,  basic  earnings per share is computed by dividing
     net earnings by the  weighted  average  number of common stock  outstanding
     during the period.  Diluted  earnings per share is computed by dividing net
     earnings by the weighted average number of shares of common stock increased
     by the effects of assuming that other potentially dilutive securities (such
     as stock options)  outstanding during the period had been exercised and the
     treasury stock method had been applied.

     The  following  table  summarizes  the  computation  of basic  and  diluted
     weighted average shares:


<PAGE>




                                                         Three Months Ended
                                                             January 31

                                                          2003       2002
                                                        --------   --------
       Weighted average shares outstanding for
          basic net earnings per share .............   3,400,254   3,409,354
       Add effects of potentially dilutive securities-
          assumed exercised of stock options .......     250,317     434,412
                                                       ---------   ---------
       Weighted average shares for diluted net
          earnings per share .......................   3,650,571   3,843,766
                                                       =========   =========


Note 4 - Segment Information

The  Company's  segments  are  described  in Note 6 of the notes to the  audited
financial  statements of the Company included in Form 10-KSB for the fiscal year
ended October 31, 2002.

Net sales and income  (loss)  before  provision  for income  taxes for the three
months ended January 31, 2003 and 2002 follows:

<TABLE>
<CAPTION>
                                                                              Common/       Intercompany
                                 Connector      Neulink      Bioconnect     Corporate          Sales           Total
                               ------------   -----------   ------------   ------------    ---------------   ---------
<S>                            <C>           <C>           <C>              <C>              <C>             <C>
   2003
-----------
Net sales ................   $ 1,795,089     $ 467,230      $ 64,557                                       $ 2,326,876

Income (loss) before
 provision for income
  taxes ..................       279,975        39,175      (106,851)     $  11,497                            223,796

Depreciation and
   amortization ..........        22,342         4,567        13,757                                            40,666

Total assets .............     9,249,335       765,238       319,068                                        10,333,661

Additions to property
   and equipment .........         5,934                                                                         5,934

    2002
-----------
Net sales .................   $ 1,770,750     $ 349,232     $ 170,413                          (105,478)   $ 2,184,917

Income (loss) before
  provision for income
    taxes ................       212,089        64,480   $  (167,135)        23,754                            133,188

Depreciation and
   amortization ...........        23,393         5,001        12,791                                           41,185

Total assets ..............     8,593,051     1,105,355       109,342                                        9,807,748

Additions to property
   and equipment ..........         3,747                         804                                            4,551

</TABLE>


<PAGE>



Item 2: Management's  discussion and analysis of financial condition and results
     of operations

This report contains  forward-looking  statements.  These  statements  relate to
future events or the Company's future financial performance.  In some cases, you
can identify  forward-looking  statements by terminology  such as "may," "will,"
"should,"  "except," "plan,"  "anticipate,"  "believe,"  "estimate,"  "predict,"
"potential"  or  "continue,"  the  negative  of such  terms or other  comparable
terminology. These statements are only predictions. Actual events or results may
differ materially.

Although  the  Company   believes  that  the   expectations   reflected  in  the
forward-looking  statements are reasonable,  the Company cannot guarantee future
results, levels of activity, performance or achievements.  Moreover, neither the
Company,  nor any other  person,  assumes  responsibility  for the  accuracy and
completeness  of  the  forward-looking  statements.  The  Company  is  under  no
obligation to update any of the  forward-looking  statements after the filing of
this  Quarterly  Report on Form  10-QSB to  conform  such  statements  to actual
results or to changes in its expectations.

The  following  discussion  should  be read in  conjunction  with the  Company's
financial  statements  and the  related  notes and other  financial  information
appearing  elsewhere  in this Form  10-QSB.  Readers are also urged to carefully
review and consider the various disclosures made by the Company which attempt to
advise  interested  parties of the factors which affect the Company's  business,
including   without   limitation   the   disclosures   made  under  the  caption
"Management's  Discussion  and  Analysis of Financial  Condition  and Results of
Operations,"  under  the  caption  "Risk  Factors,"  and the  audited  financial
statements  and related notes  included in the Company's  Annual Report filed on
Form 10-KSB for the year ended  October  31, 2002 and other  reports and filings
made with the Securities and Exchange Commission.

CRITICAL ACCOUNTING POLICIES

The  consolidated  financial  statements of RF  Industries  and  Subsidiary  are
prepared in conformity  with  accounting  principles  generally  accepted in the
United States of America ("GAAP"). The preparation of these financial statements
requires our  management to make estimates and  assumptions  about future events
that affect the amounts reported in the financial  statements and related notes.
Future events and their effects  cannot be determined  with absolute  certainty.
Therefore, the determination of estimates requires the exercise of judgment. The
Company  believes the following  critical  accounting  policies  affect its more
significant  judgments  and  estimates  used  in the  preparation  of  financial
statements.

REVENUE RECOGNITION

The Company recognizes revenue from the sale of products at the time of shipment
of the  product.  In  addition,  the  Company has a  strategic  alliance  with a
supplier  where  the  Company  recognizes  commission  income  when  payment  is
received.

ALLOWANCE FOR DOUBTFUL ACCOUNTS

The Company  maintains an allowance  for doubtful  accounts  based on historical
collections of accounts receivable. The Company monitors its accounts receivable
balances  on  a  continual  basis.  If  the  financial  condition  of  customers
deteriorates, additional allowances may be required.

INCOME TAXES

The Company accounts for income taxes pursuant to the asset and liability method
which  requires  deferred  income tax assets and  liabilities to be computed for
temporary  differences  between the financial  statement and tax basis of assets
and  liabilities  that will result in taxable,  or deductible  amounts in future
periods  based on enacted laws and rates  applicable to the periods in which the
temporary   differences  are  expected  to  affect  taxable  income.   Valuation
allowances are  established  when necessary to reduce deferred tax assets to the
amount  expected to be realized.  The income tax provision is the tax payable or
refundable for the period plus or minus the change during the period in deferred
tax assets and liabilities.

INVENTORY VALUATION

Inventories are valued at the weighted average cost value.  Certain items in the
inventory may be  considered  obsolete or excess,  and as such,  the Company may
establish an allowance to reduce the carrying  value of these items to their net
realizable  value.  Based on estimates,  assumptions and judgments made from the
information  available at the time, the Company  determines the amounts of these
allowances.  If these estimates and related assumptions or the market change, we
may be required to record additional reserves.

LIQUIDITY AND CAPITAL RESOURCES

Management  believes  that  existing  current  assets  and the amount of cash it
anticipates it will generate from current  operations will be sufficient to fund
the anticipated liquidity and capital resource needs of the Company for at least
twelve  months.  The Company does not,  however,  currently  have any commercial
banking  arrangements  providing for loans, credit facilities or similar matters
should the Company need to obtain additional  capital.  Management believes that
its existing  assets and the cash expected to be generated from  operations will
be sufficient during the current fiscal year are based on the following:

o    As of January 31, 2003, the amount of cash and cash  equivalents  was equal
     to $ 4,272,835 in the aggregate.

o    As of January 31, 2003, the Company had $ 9,797,489 in current assets,  and
     only $ 519,538 of current liabilities.

o    As of January 31, 2003, the Company had no outstanding  indebtedness (other
     than accounts payable and accrued expenses).

The Company does not believe it will need material  additional capital equipment
in the next twelve  months.  In the past,  the Company has financed  some of its
property and  equipment  requirements  through  capital  leases.  No  additional
capital  equipment  purchases have been currently  identified that would require
significant  additional  leasing or capital  obligations  during the next twelve
months. Management also believes that based on the Company's financial condition
at January 31, 2003, the absence of outstanding  bank debt and recent  operating
results,  the  Company  would  be able to  obtain  bank  loans  to  finance  its
expansion, if necessary,  although there can be no assurance any bank loan would
be obtainable, or if obtained, would be on favorable terms or conditions.

As of January 31, 2003,  the Company had a total of $ 4,272,835 of cash and cash
equivalents  compared to a total of $ 3,939,299 of cash and cash  equivalents on
October 31, 2002.  The increase in liquid assets is the result of (i) net income
earned by the Company during the three-month  period following October 31, 2002,
(ii) a decrease in the amount of  inventories  held by the Company  (the Company
sold some of its excess  inventory  that it did not need to replenish) and (iii)
additional collections of accounts receivable.

Net cash used in  investing  activities  was $ 5,934 for the first three  months
ended January 31, 2003, and was attributable to capital expenditures.

Net cash used in  financing  activities  was $ 68,746 for the three months ended
January 31,  2003,  which was  primarily  attributable  to the payment on a loan
incurred  in  connection  with the  purchase  of  Bioconnect  of $44,582 and the
purchase of treasury stock in the amount of $24,164.

As a result of the foregoing factors, the Company generated net cash of $408,216
from its operations during the past fiscal quarter.

Three Months 2003 vs. Three Months 2002
---------------------------------------

Net sales  increased  6.5%, or $142,000,  to $2,327,000  from  $2,185,000 in the
first  fiscal  quarter  last  year,  due to  increased  sales  in the  Company's
Connector and Neulink divisions.

Net sales at the RF Connector division increased 1.4%, to $1,795,000 compared to
$1,771,000  for the same  quarter  last year,  due to a general  increase in the
demand for connectors throughout the industry.

Net sales at the RF Neulink  division  increased by 34% to $467,000  compared to
$349,000 in the first quarter last year. The increase in sales can be attributed
primarily  to an  increase in the number of  products  offered to the  Company's
customers.

Net sales at the Bioconnect division decreased 62% to $64,500 from $170,400. The
decrease in sales can be  attributed  primarily to the loss of a large  contract
the division was actively shipping in the first quarter of 2002.

Cost of sales  increased 3.7% or $42,500,  to $1,192,200  from $1,149,700 in the
same quarter last year.  The increase is primarily  due to the 6.5%  increase in
net sales.  Overall  gross  margins,  as a percentage of sales,  increased  1.4%
compared to the first quarter last year. Gross margins  typically  fluctuate due
to the mix of products sold by the Company.

Engineering expenses increased 21%, or $34,500, to $198,500 from $164,000 in the
first quarter last year. Engineering expenses increased primarily as a result of
the  additional  expenses  incurred to develop a new  high-speed  wireless radio
modem, the Company intends to introduce to replace an existing product line.

Selling and general expenses decreased 6% or $46,000,  to $724,000 from $770,000
in the same quarter last year.  Selling and general  expenses were higher in the
first quarter last year due primarily to $37,500 in expenses associated with the
development of a new catalog for the RF Connector division.

The Company  anticipates  that its selling and general  expenses will remain the
same or decrease in the near future due to the recent  closing and relocation of
the Bioconnect  facilities.  During the past few months,  the Company has closed
the  separate  facilities  that  Bioconnect  had  maintained  in Lake  Elsinore,
California, and moved those facilities to the Company's principal offices in San
Diego,   California.   In   connection   with  the  foregoing   relocation   and
consolidation,  the Company also permitted the  employment  agreements of two of
Bioconnect's  officers  to expire and  reduced  the number of  employees  in the
Bioconnect  division.  All of the  foregoing  actions are expected to reduce the
Company's selling and general expenses in the future.

Net interest income  decreased to $11,500 from $23,750 in the first quarter last
year due to lower interest  rates and reduced  investments in mutual funds since
July of 2002.

MATERIAL CHANGES IN FINANCIAL CONDITION:

Cash and cash  equivalents  increased by $333,500 to  $4,272,800  at January 31,
2003 compared to  $3,939,300 at October 31, 2002.  The increase is due primarily
to lower inventory levels, net income of $134,796 for the first quarter of 2003,
and the collection of accounts receivable.

Trade accounts receivable decreased 3%, or $35,400 to $1,111,000 compared to the
October 31, 2002 balance of $1,146,400.  The decrease is due primarily to timing
of collections  and the Company's  increased  efforts to reduce its  outstanding
accounts receivable.

Inventories  decreased to $177,500,  to  $3,966,000  compared to  $4,143,500  on
October 31, 2002. As part of its business strategy, and because of its off-shore
manufacturing  arrangements,  the  Company  normally  maintains  a high level of
inventory.  For the past  year,  the  Company  has been  steadily  reducing  its
inventory levels, to a sufficient amount to meet customer demand. However, based
on the recent increases in customer demand, the Company does not believe that it
will further significantly reduce its inventory.

Other  current  assets,  including  prepaid  expenses  and  deposits,  increased
$104,000 to  $273,000,  from  $169,000 on October 31, 2002.  This  increase is a
seasonal factor  associated  with annual  invoices for prepaid cargo  insurance,
prepaid  property and  liability  insurance,  audit fees,  computer  maintenance
agreements and other miscellaneous expenses.

Item 3. Controls and Procedures.

Within 90 days prior to the date of this quarterly report on Form 10-QSB for the
first  quarter ended January 31, 2003,  the Company  carried out an  evaluation,
under the supervision and with the  participation  of the Company's  management,
including the Company's  Chief  Executive  Officer and President,  the principal
executive  officers and the Company's  Chief  Financial  Officer,  our principal
financial  officer,  of the  effectiveness  of the design and  operation  of the
Company's  disclosure  controls  and  procedures  pursuant to Rule 13a-14 of the
Securities  Exchange Act of 1934.  Based upon that  evaluation,  these principal
executive officers and principal  financial officer concluded that the Company's
disclosure  controls and  procedures  are  effective in timely  alerting them to
material information relating to the Company's periodic SEC filings.  There were
no significant  changes in the Company's  internal  controls or in other factors
that could  significantly  affect those  controls  subsequent to the date of our
most recent evaluation.


PART II.   OTHER INFORMATION


Item 6.   Exhibits and Reports on Form 8-K

         (a) Exhibits:

               99.1 Certification  of Chief  Executive  Officer  Pursuant  to 18
                    U.S.C. 1350, as Adopted  Pursuant to Section 906 of the
                    Sarbanes- Oxley Act of 2002.

               99.1 Certification  of Chief  Financial  Officer  Pursuant  to 18
                    U.S.C. 1350, as Adopted  Pursuant to Section 906 of the
                    Sarbanes- Oxley Act of 2002.

         (b)      Reports on Form 8-K
                  --------------------

                  None.


<PAGE>




                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                                 RF INDUSTRIES, LTD.


Dated: March 17, 2003                            By:   Howard F. Hill
                                                 -------------------------------
                                                    Howard F. Hill, President
                                                    Chief Executive Officer




Dated: March 17, 2003                            By:  Terrie A. Gross
                                                 -------------------------------
                                                    Terrie A. Gross
                                                    Chief Financial Officer









<PAGE>




                                 CERTIFICATIONS

I, Howard F. Hill, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of RF Industries, Ltd.;

2. Based on my  knowledge,  this  quarterly  report  does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not  misleading  with respect to the period covered by this quarterly
report;

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4.  The  registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange  Act Rules  13a-14  and  15d-14)  for the  registrant  and we have:  a)
designed  such  disclosure  controls  and  procedures  to ensure  that  material
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others  within those  entities,  particularly  during the
period in which  this  quarterly  report is being  prepared;  b)  evaluated  the
effectiveness  of the  registrant's  disclosure  controls and procedures as of a
date  within 90 days  prior to the filing  date of this  quarterly  report  (the
"Evaluation  Date");  and c) presented in this quarterly  report our conclusions
about the  effectiveness of the disclosure  controls and procedures based on our
evaluation as of the Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation,  to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent function):
a) all significant  deficiencies in the design or operation of internal controls
which  could  adversely  affect the  registrant's  ability  to record,  process,
summarize and report  financial data and have  identified  for the  registrant's
auditors any material weaknesses in internal controls; and b) any fraud, whether
or not  material,  that  involves  management  or  other  employees  who  have a
significant role in the registrant's internal controls; and

6. The  registrant's  other  certifying  officers  and I have  indicated in this
quarterly  report  whether or not there  were  significant  changes in  internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of our most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date: March 17, 2003

/s/  Howard F. Hill
-----------------------
Howard F. Hill
Chief Executive Officer



<PAGE>

                                 CERTIFICATIONS

I, Terrie A. Gross, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of RF Industries, Ltd.;

2. Based on my  knowledge,  this  quarterly  report  does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not  misleading  with respect to the period covered by this quarterly
report;

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4.  The  registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange  Act Rules  13a-14  and  15d-14)  for the  registrant  and we have:  a)
designed  such  disclosure  controls  and  procedures  to ensure  that  material
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others  within those  entities,  particularly  during the
period in which  this  quarterly  report is being  prepared;  b)  evaluated  the
effectiveness  of the  registrant's  disclosure  controls and procedures as of a
date  within 90 days  prior to the filing  date of this  quarterly  report  (the
"Evaluation  Date");  and c) presented in this quarterly  report our conclusions
about the  effectiveness of the disclosure  controls and procedures based on our
evaluation as of the Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation,  to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent function):
a) all significant  deficiencies in the design or operation of internal controls
which  could  adversely  affect the  registrant's  ability  to record,  process,
summarize and report  financial data and have  identified  for the  registrant's
auditors any material weaknesses in internal controls; and b) any fraud, whether
or not  material,  that  involves  management  or  other  employees  who  have a
significant role in the registrant's internal controls; and

6. The  registrant's  other  certifying  officers  and I have  indicated in this
quarterly  report  whether or not there  were  significant  changes in  internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of our most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date: March 17, 2003



/s/   Terrie A. Gross
-----------------------
Terrie A. Gross
Chief Financial Officer