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Michigan Rivet Announces Results of Operations for Second Quarter

25 May 1999

Michigan Rivet Corporation Announces Results of Operations for Second Quarter And Six Months Ended April 30, 1999

    WARREN, Mich., May 24 -- Michigan Rivet Corporation announced
its results of operations for the second quarter and six months ended
April 30, 1999.
    Sales for the quarter ended April 30, 1999 were $12,494,000, up 1% from
the same quarter in 1998.  Net income was $676,000 or $1.05 per share as
compared to a net profit of $665,000 or $1.04 per share in the comparable
period a year ago.
    For the six months ended April 30, 1999, sales were $23,149,000, up 1.2%
from the same period in 1998.  Net income was $1,095,000 or $1.71 per share as
compared to a net profit of $1.62 per share in the comparable period a year
ago.

                              Three Months Ended          Six Months Ended
                                   April 30                    April 30
                              1999          1998          1999         1998

    Net Sales             $12,494,045   $12,352,755   $23,148,846  $22,880,907
    Net Income               $675,681      $664,617    $1,095,019   $1,036,172
    Net Income Per Share        $1.05         $1.04         $1.71        $1.62

    The Board of Directors of Michigan Rivet Corporation declared a dividend
of twelve cents ($.12) per share payable June 21, 1999 to Shareholders of
Record as of May 28, 1999.
    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.