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Michigan Rivet Corporation Announces Third Quarter Results

26 August 1997

Michigan Rivet Corporation Announces Third Quarter Results

    WARREN, Mich., Aug. 26 -- Michigan Rivet Corporation
announced its results of operations for the third quarter and nine months
ended July 31, 1997.
    Sales for the quarter ended July 31, 1997 were $9,767,000, down 2.4% from
the same quarter in 1996.  Net income was $74,000 or $.11 per share as
compared to a net income of $242,000 or $.38 per share in the comparable
period a year ago.
    For the nine months ended July 31, 1997, sales were $31,254,000, up 4.7%
from the same period in 1996.  Net income was $743,000 or $1.16 per share as
compared to a net income of $1.28 per share in the comparable period a year
ago.

                     Three Months Ended                 Nine Months Ended
                       July 31                             July 31

                       1997           1996           1997           1996

    Net Sales    $9,766,777    $10,010,527    $31,253,533    $29,837,763

    Net Income      $74,219       $241,900       $743,254       $816,534

    Net Income
     Per Share         $.11           $.38          $1.16          $1.28

    Michigan Rivet Corporation produces specialty fasteners for the automotive
industry.  Its manufacturing facilities are located in Warren and Petoskey,
Michigan.  Michigan Rivet's stock is traded on Michigan Over-the-Counter
Exchange.

SOURCE  Michigan Rivet Corporation