---

Michigan Rivet Corporation Announced Its Q3 Results

1 September 1998

Michigan Rivet Corporation Announced Its Results of Operations For the Third Quarter and Nine Months Ended July 31, 1998

    WARREN, Mich., Aug. 31 -- Michigan Rivet Corporation
announced its results of operations for the third quarter and nine months
ended July 31, 1998.
    Sales for the quarter ended July 31, 1998 were $9,634,000, down 1.4% from
the same quarter in 1997.  Net income was $73,000 or $.12 per share as
compared to a net income of $74,000 or $.12 per share in the comparable period
a year ago.
    For the nine months ended July 31, 1998, sales were $32,515,000, up 4.0%
from the same period in 1997.  Net income was $1,110,000 or $1.74 per share as
compared to a net income of $1.16 per share in the comparable period a year
ago.

                            Three Months Ended           Nine Months Ended
                                  July 31                    July 31
                             1998        1997           1998        1997
    Net Sales            $9,634,274   $9,766,777    $32,515,181   $31,253,533
    Net Income              $73,366      $74,219     $1,109,538      $743,254
    Net Income
     Per Share                 $.12         $.12          $1.74         $1.16

    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.