Abstract: A rotary cutting die is adapted to be mounted on a rotatable cylindrical die drum of a rotary press to cut a planar object passed between such rotating die drum and a cooperative oppositely-rotating anvil drum of said press. The rotary die includes: a die board having a concave surface adapted to cover a portion of the die drum, an opposite convex surface, and a plurality of openings therethrough; a plurality of fasteners adapted to selectively hold the die board to the die drum; a plate-like knife member adapted to be mounted on the die board at any of a plurality of large incremental positions in a longitudinal direction; and holding means mounted on the die board and selectively operable to hold the knife member at any selected one of the large incremental positions. In one embodiment, the die board openings are longitudinally-elongated to permit the die board to be shifted longitudinally relative to the die drum.