Ditto what Mike and Al said. Use a grinder with a cutoff wheel to cut slots. You can buy a drill bit from a company called Artu. It will drill through the side of a Tap, HSS, clutch plates, you name it. They are quite expensive. You have to run your drill press at high speed. The bit heats up and becomes red hot and when it gets to the point you think it's going to melt or something it just drills right through. Pretty cool. I did a few inserts for my hollowing tools that way and then decided that slots were much easier. You also don't have to remove the screws from your tools to remove the bit if you have a slot. You don't lose any screws that way.