In a rolling mill containing two work rolls and, as desired, supporting or back-up rolls, a rapid adjustment of the roll gap or nip with elimination of effects due to elastic elongation of the roll framework or stand is achieved in that when structuring at least one of the rolls as a controlled deflection roll containing a stationary roll support and a rotatable roll shell rotating thereabout, there is measured the position of the inner side or surface of the roll shell and an automatic control serves to adjust or readjust the roll gap or nip by causing changes in the pressure exerted upon the hydrostatic supporting or pressure elements placed intermediate the stationary roll support and the rotatable roll shell.