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Michigan Rivet Announces Results of Operations for Q4 and Year Ended October 31, 1999

26 January 2000

Michigan Rivet Corporation Announces Results of Operations for Fourth Quarter and Year Ended October 31, 1999

    WARREN, Mich., Jan. 26 -- Michigan Rivet Corporation
announced its results of operations for the fourth quarter and year ended
October 31, 1999.
    Sales for the quarter ended October 31, 1999 were $11,925,000, 6.6% less
than the comparable period in 1998.  Net income was $850,000 or $1.33 per
share for quarter ended October 31, 1999 compared to $1.45 per share in 1998.
    For the year ended October 31, 1999, sales were $46,269,000, up 2.2% from
1998.  Net income was $2,392,000 or $3.75 per share compared to a net income
of $2,037,000 or $3.19 per share in 1998.

                           Three Months Ended               Year Ended
                               October 31                   October 31
                          1999            1998          1999          1998

    Net Sales       $11,925,083     $12,772,132   $46,268,939   $45,287,313
    Net Income         $850,001        $927,169    $2,392,477    $2,036,707
    Earnings Per Share    $1.33           $1.45         $3.75         $3.19

    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.