The pistons include spring carrying rods which extend through the housing in order to normally bias the pistons toward the housing to normally engage the brake assembly. A low inertia clutch and brake system includes a rotatable shaft. A low speed clutch assembly including friction clutch surfaces is mounted about the shaft, and is spaced from a high speed clutch assembly which also includes friction clutch surfaces mounted about the shaft. A brake assembly is disposed between the low and high clutch assemblies and includes friction surfaces mounted about the shaft. A stationary housing is disposed about the brake assembly. The brake assembly is normally engaged with the housing to prevent rotation of the shaft. Pistons are mounted in the housing and are operable in response to fluid pressure to selectively disengage the brake assembly and to engage one of the clutch assemblies. Structure is provided to selectively apply fluid pressure to either of the pistons. In accordance with another aspect of the low inertia brake and clutch, a clutch and brake system for a press includes a rotatable shaft with low and high speed clutch assemblies spaced along the shaft. A brake assembly is disposed between the low and high clutch assemblies and is normally engaged to prevent rotation of the shaft. A pair of non-rotating integral annular pistons is provided with first surfaces disposed against opposite sides of the friction surfaces of the brake assembly for normally engaging the brake assembly. The pistons also include second surfaces disposed radially outwardly from the brake assemblies pressurized fluid may be selectively applied to the second surfaces to move the pistons toward the clutch assemblies to disengage the brake assembly and to engage one of the clutch assemblies.