A multiple punch and die assembly adapted to be placed in a punch press having a punch ram for imparting movement to a selected punch driver for carrying out a punching or forming operation comprising: a punch assembly for holding a plurality of selectively operable punches mounted for independent movement in the punch assembly so as to selectively engage a workpiece, said punch assembly having a punch carrier for reciprocal motion within a punch guide; a striker body engaging the punch carrier, said striker body being selectively positionable by relative rotation of the striker body and punch carrier to select an active punch for engagement by the striker, by positioning the striker body in one of a plurality of operating positions, at which a punch driver is positioned for being struck selectively by the ram via the striker body such that the active punch is driven to an operating position when at least one other punch is in inactive; and a punch lock plate mounted in the punch carrier; characterized in that the punch lock plate has a circumferential edge for engaging a stabilizing groove in each inactive punch, said edge including a recessed edge at which the circumferential edge does not engage the stabilizing groove of the active punch when the recess is angularly aligned with such active punch, said punch lock plate being operably engaged to rotate with the striker body to engage inactive punches at their stabilizing groove; wherein the punch lock plate is positioned generally centrally within the punch carrier and generally within a circumference defined by the punch drivers; and wherein the recessed edge of the punch lock plate does not extend outwardly enough from a center axis of the punch carrier to engage the punch driver to which it is adjacent. a punch assembly for holding a plurality of selectively operable punches mounted for independent movement in the punch assembly so as to selectively engage a workpiece, said punch assembly having a punch carrier for reciprocal motion within a punch guide; a striker body engaging the punch carrier, said striker body being selectively positionable by relative rotation of the striker body and punch carrier to select an active punch for engagement by the striker, by positioning the striker body in one of a plurality of operating positions, at which a punch driver is positioned for being struck selectively by the ram via the striker body such that the active punch is driven to an operating position when at least one other punch is in inactive; and a punch lock plate mounted in the punch carrier; characterized in that the punch lock plate has a circumferential edge for engaging a stabilizing groove in each inactive punch, said edge including a recessed edge at which the circumferential edge does not engage the stabilizing groove of the active punch when the recess is angularly aligned with such active punch, said punch lock plate being operably engaged to rotate with the striker body to engage inactive punches at their stabilizing groove; wherein the punch lock plate is positioned generally centrally within the punch carrier and generally within a circumference defined by the punch drivers; and wherein the recessed edge of the punch lock plate does not extend outwardly enough from a center axis of the punch carrier to engage the punch driver to which it is adjacent.