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Michigan Rivet Corporation Announces Results

28 May 1998

Michigan Rivet Corporation Announces Second Quarter and Six Months Results

    WARREN, Mich., May 28 -- Michigan Rivet Corporation announced
its results of operations for the second quarter and six months ended
April 30, 1998.
    Sales for the quarter ended April 30, 1998 were $12,353,000, up 7% from
the same quarter in 1997.  Net income was $665,000 or $1.04 per share as
compared to a net profit of $550,000 or $.86 per share in the comparable
period a year ago.
    For the six months ended April 30, 1998, sales were $22,881,000, up 6.5%
from the same period in 1997.  Net income was $1,036,000 or $1.62 per share as
compared to a net profit of $1.05 per share in the comparable period a year
ago.

                             Three Months Ended          Six Months Ended
                                 April 30                    April 30
                             1998         1997            1998        1997
    Net Sales            $12,352,755  $11,558,406    $22,880,907  $21,486,756
    Net Income              $664,617     $550,011     $1,036,172     $669,035
    Net Income
     Per Share                 $1.04         $.86          $1.62        $1.05

    Michigan Rivet Corporation produces specialty fasteners primarily for the
automotive industry and is QS-9000 and ISO 9002 registered.  Its manufacturing
facilities are located in Warren and Petoskey, Michigan.  Michigan Rivet
Corporation's stock is traded on Michigan Over-the-Counter.