In a method of cooling and/or lubricating of rolls and/or rolling stock according to which a cooling medium is applied to the rolls from a plurality of nozzles/nozzle rows, on one hand, and for lubrication, on the other hand, base oil is applied to the rolling stock in front of a roll gap, wherein the nozzles/nozzle rows are adjusted separately and independent from each other the cooling medium is applied to the rolls separately from the base oil, and finally, the base oil without water as a base medium is applied directly to the rolling stock over an entire width thereof in a very small amount in comparison with a conventional amount.To this end, media separating means is arranged between the nozzles/nozzle rows for applying cooling medium to the rolls and the nozzles/nozzle rows for applying base oil to the rolling stock.