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Michigan Rivet Corporation Announces Results of Operations

26 January 1999

Michigan Rivet Corporation Announces Results of Operations For Fourth Quarter and Year Ended October 31, 1998

    WARREN, Mich., Jan. 25 -- Michigan Rivet Corporation
announced its results of operations for the fourth quarter and year ended
October 31, 1998.
    Sales for the quarter ended October 31, 1998 were $12,772,000, 8.6%
greater than the comparable period in 1997.  Net income was $927,000 or $1.45
per share for quarter ended October 31, 1998 compared to $1.23 per share in
1997.
    For the year ended October 31, 1998, sales were $45,287,000, up 5.3% from
1997.  Net income was $2,037,000 or $3.19 per share compared to a net income
of $1,527,000 or $2.39 per share in 1997.

                            Three Months Ended             Year Ended
                               October 31                  October 31

                            1998         1997          1998          1997
    Net Sales          $12,772,132   $11,759,770   $45,287,313   $43,013,303
    Net Income            $927,169      $783,642    $2,036,707    $1,526,898
    Earnings Per Share       $1.45         $1.23         $3.19         $2.39

    Michigan Rivet Corporation has been producing specialty fasteners for the
automotive industry since 1949 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.