The invention relates to a tool holding assembly with an adjustment means capable of causing the tool holding end of the assembly to bend in relation to the opposite attachment end of the assembly. This is accomplished by providing first and second contact surfaces longitudinally spaced from each other along the assembly, and providing an adjustment means having at least one adjustment screw, wherein by adjusting the screw, pressure can be simultaneously applied by the adjustment means onto the first and second contact surfaces, such that an axis of one end of the assembly can be displaced by bending in relation to the other.