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A rotary device has a releasable tool holder. A spindle with two ends has one end adapted to secure to a rotary device and the other includes a bore to receive a tool. A mechanism to retain and release the tool from the spindle bore is coupled with the spindle adjacent the bore end. At least two unlike retention members to apply a force on the tool in the bore are adjacent the bore. A sleeve surrounds the bore end of the spindle as well as the at least two unlike retention members. The sleeve has a common surface to apply a force on the at least two unlike retention members such that when the sleeve is axially moved along the spindle, the force is varied with respect to the position of the surface on the retention member. This force maintains the tool in the bore or enables the tool to be removed from the bore. A biasing member maintains the sleeve in a retention position on the spindle.
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