EXHIBIT 99.1

Chicago Rivet & Machine Co. Adopts Shareholder Rights Plan

NAPERVILLE, Ill., Nov. 23 -- Chicago Rivet & Machine Co. (the "Company")
(Amex: CVR), announced that its Board of Directors adopted a
Shareholder Rights Plan in which rights will be distributed as a dividend
at the rate of one Right for each share of common stock, par value $1.00
per share, of the Company held by shareholders of record as of the close of
business on December 3, 1999.

         The Rights Plan is designed to deter coercive takeover tactics
including the accumulation of shares in the open market or through private
transactions and to prevent an acquiror from gaining control of the Company
without offering a fair and adequate price to all of the Company's
shareholders. The Rights will expire on December 2, 2009.

         Each Right initially will entitle shareholders to buy a unit
representing one one-hundredth of a share of a new series of preferred stock
of the Company for $90.00. The Rights generally will be exercisable only if
a person or group acquires beneficial ownership of 10% or more of the
Company's common stock or commences a tender or exchange offer upon
consummation of which such person or group would beneficially own 10% or
more of the Company's common stock. If a person of group acquires beneficial
ownership of 10% or more of the Company's common stock, each Right (other
than Rights held by the acquiror) will, unless the Rights are redeemed by
the Company, become exercisable upon payment of the exercise price of $90.00
for common stock of the Company having a market value of twice the exercise
price of the Right.

         A copy of the Shareholder Rights Plan will be filed shortly with
the Securities and Exchange Commission.

            For further information please contact: John C. Osterman of
Chicago Rivet & Machine Co., 630-357-8500.