Abstract: A model PEP rust-proofing and lubricating film was developed in this paper. The friction and wear testing results showed that uunder the given conditions the friction coefficient is 0.06-0.10, the wear life of this kind of dry film is prolonged near one times than that of dry film in which the phenol formaldehyde epoxy resin is used as binder alone, after adding rare earth compound the antiwear ability rises again. The sample coated with PEP dry film was not rusted in a 5 % NaCl solution for 100 hours. The antiwear property of this dry film is better than that of Model SDA9 dry film from France in a comparative test. At present, the PEP dry film has been the alternative for the import products and has been applied to lubrication of several parts of tower crane and of xerox machine.