EXHIBIT 99.1

          CHICAGO RIVET & MACHINE CO. ANNOUNCES TWO-FOR-ONE STOCK
          SPLIT AND 20 PERCENT INCREASE IN QUARTERLY DIVIDEND

          NAPERVILLE, Ill., Aug. 18 /PRNewswire/   Chicago Rivet &
          Machine Co. (Amex: CVR) announced that its Board of
          Directors today authorized a two-for-one split of the
          Company's outstanding common stock.  The additional
          shares of common stock will be issued September 19, 1997
          to stockholders of record at the close of business on
          September 5, 1997.  Following the stock split, the
          Company will have approximately 1.17 million shares of
          common stock outstanding.

          The Company also announced that the Board of Directors
          today declared a cash dividend on the outstanding shares
          of common stock of $0.36 per common share, before giving
          effect to the two-for-one stock split.  This quarterly
          dividend of $0.36 per share represents a 20% increase
          from the previous rate of $0.30 per share.  The cash
          dividend is payable September 19, 1997 to stockholders of
          record at the close of business on September 5, 1997.

          "The stock split and increased cash dividend are an
          indication of our confidence in the future of our
          business," said John A. Morrissey, Chairman and Chief
          Executive Officer.  "The increased dividend enhances
          stockholder return and reflects the Company's improved
          performance.  The increased trading prices for Company
          shares makes a stock split desirable to improve the
          liquidity of our shares and broaden our stockholder base
          by setting a market price at a level more attractive to
          individual investors."

          Headquartered in Naperville, Illinois, Chicago Rivet &
          Machine Co. operates in the United States fastener
          industry, manufacturing and selling rivets, cold-headed
          parts, screw machine products and automatic rivet setting
          machines, parts and tools.

          SOURCE: Chicago Rivet & Machine Co.
               CONTACT: John C. Osterman at (630) 357-8500