Hole punch apparatus which automatically places a reinforcement ring precisely around each punched hole concurrently with the creation of each hole and using the same motion that punches the holes. In a preferred embodiment, the punch shaft has a ring compression disk affixed around it at a location above the punch face. The compression disk has a ring cushion and a stack of reinforcement rings extending along the punch shaft toward the punch face, but spaced therefrom to permit the punch face to puncture a sheet before the lowermost reinforcement ring is then compressed against the sheet in precise axial alignment with the punched hole. The rings each have sufficient adhesive to adhere to the sheet, one and only one ring at each hole, while disengaging from the remaining rings in the stack. A sheet interface unit is installed on the lower surface of a punch bracket enclosure and provides a sheet retainer so that the sheet cannot rise significantly above the bracket base and thus will pull the lowermost reinforcement ring away from the stack as the punch lever is released. When re-supply is needed, a new ring stack is readily installed using a ring stack cassette, which in the preferred embodiment also replaces the sheet interface unit including the sheet retainer.