An electric drill (10) has a drive assembly (31, 70), and a pivot head (32) having first and second bit gripping assemblies (14, 22) disposed at 90 degrees to each other. The electric drill (10) also includes means for adjusting the position of the bit gripping assemblies (14, 22) relative to the drive assembly (31, 70) by pivoting the head (32) through 90 degrees, whereby a selected one of the bit gripping assemblies is operatively engaged to the drive assembly. The position adjusting means may include a movable locking sleeve (36) which, in a first position, allows the drive assembly to operatively engage the selected bit gripping assembly and, in a second position, allows the drive assembly to disengage the selected bit gripping assembly.