Michigan Rivet Announces its Results of Operations For Q2 and 6 Months

    WARREN, Mich., May 31 Sales for the quarter ended
April 30, 2001 were $9,079,000, down 22.5% from the same quarter in 2000.  Net
income was $36,000 or $.06 per share as compared to a net income of $677,000
or $1.06 per share in the comparable period a year ago.

    For the six months ended April 30, 2001, sales were $16,737,000, down
24.1% from the same period in 2000.  Net loss was $(430,000) or $(.67) per
share compared to a net income of $1,091,000 or $1.71 per share in the
comparable period a year ago.

                        Three Months Ended         Six Months Ended
                             April 30                  April 30
                         2001         2000         2001         2000

    Net Sales         $9,079,161  $11,716,646   $16,737,456  $22,043,830
    Net Income (Loss)   $ 35,505    $ 676,983    $ (430,100) $ 1,091,148
    Net Income (Loss)
      Per share            $ .06       $ 1.06        $ (.67)      $ 1.71

    The Board of Directors of Michigan Rivet Corporation voted again to forgo
a dividend due to current operating results.