Abstract: A punch roll which may be used in existing roll piercing systems. The punch roll has radially oriented punches which cooperate with dies upon coordinated rotation to pierce holes in material. The punch roll features a two-piece construction. The two pieces include an annular ring which is maintained in coaxial relationship with a cylindrical member. In the preferred embodiment, the cylindrical member has axially oriented spline-like recessed portions formed in the peripheral surfaces thereof. The recessed portions are preferably oriented parallel to the axis of the member. In the punch roll annular member, the radially oriented bores provide a close tolerance sliding fit with a first portion of a punch. The second portion of the punch has a larger cross-section than the first and is received in the recessed portion located between the annular ring and the cylindrical member.