<PAGE>
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 10-Q

               Quarterly report pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


For the quarterly period ended September 30, 2002  Commission file number 0-1227
                               ------------------                         ------


                           CHICAGO RIVET & MACHINE CO.
                           ---------------------------
             (Exact Name of Registrant as Specified in Its Charter)


ILLINOIS                                                             36-0904920
---------                                                          ------------
(State or Other Jurisdiction of                (IRS Employer Identification No.)
 Incorporation or Organization)


      P.O. Box 3061 90l Frontenac Road Naperville, Illinois  60566
    ----------------------------------------------------------------
           (Address of Principal Executive Office)        (Zip Code)


Registrant's Telephone Number, Including Area Code (630) 357-8500
                                                   --------------


Indicate by check mark whether the registrant: (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.


Yes      X                    No
       -----                          -----


Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

Class                                         Outstanding at September 30, 2002
-----                                         ---------------------------------

Common Stock, $1.00 Par Value                            966,132 Shares
-----------------------------                            --------------





<PAGE>
                           CHICAGO RIVET & MACHINE CO.

                                      INDEX

PART I.                    FINANCIAL INFORMATION                           Page

         Consolidated Balance Sheets at September 30, 2002 and
                  December 31, 2001                                         2-3
         Consolidated Statements of Operations for the Three and
                  Nine Months Ended September 30, 2002 and 2001               4

         Consolidated Statements of Retained Earnings for the
                  Nine Months Ended September 30, 2002 and 2001               5

         Consolidated Statements of Cash Flows for the Nine
                  Months Ended September 30, 2002 and 2001                    6

         Notes to the Consolidated Financial Statements                     7-9

         Management's Discussion and Analysis of Financial
                  Condition and Results of Operations                     10-11

         Quantitative and Qualitative Information About Market Risk          12

         Controls and Procedures                                             12

PART II.                   OTHER INFORMATION                              13-21






                                       1
<PAGE>
                           CHICAGO RIVET & MACHINE CO.
                           Consolidated Balance Sheets
                    September 30, 2002 and December 31, 2001

                                                    September 30,   December 31,
                                                        2002           2001
                                                    -----------     -----------
                                                     (Unaudited)
                  Assets

Current Assets:
  Cash and cash equivalents                         $ 1,907,902     $ 4,692,999
  Certificates of deposit                             2,957,733         177,882
  Accounts receivable - net of allowances             5,912,031       3,995,148
  Inventories:
    Raw materials                                     1,587,944       1,649,051
    Work in process                                   1,806,660       1,766,068
    Finished goods                                    2,454,881       2,635,549
                                                    -----------     -----------
  Total inventories                                   5,849,485       6,050,668
                                                    -----------     -----------
  Deferred income taxes                                 607,191         607,191
  Other current assets                                  369,124         335,590
                                                    -----------     -----------
Total current assets                                 17,603,466      15,859,478
                                                    -----------     -----------
Property, Plant and Equipment:
    Land and improvements                             1,010,595       1,010,595
    Buildings and improvements                        5,738,460       5,738,460
    Production equipment, leased
      machines and other                             27,827,360      27,958,777
                                                    -----------     -----------
                                                     34,576,415      34,707,832
Less accumulated depreciation                        21,331,983      20,889,297
                                                    -----------     -----------
Net property, plant and equipment                    13,244,432      13,818,535
                                                    -----------     -----------
Total assets                                        $30,847,898     $29,678,013
                                                    ===========     ===========

See Notes to the Consolidated Financial Statements


                                       2
<PAGE>
                           CHICAGO RIVET & MACHINE CO.
                           Consolidated Balance Sheets
                    September 30, 2002 and December 31, 2001

<TABLE>
<CAPTION>
                                                                         September 30,     December 31,
                                                                             2002              2001
                                                                         ------------      ------------
                                                                         (Unaudited)
<S>                                                                      <C>               <C>
                  Liabilities and Shareholders' Equity

Current Liabilities:
  Current portion of note payable                                        $  1,800,000      $  1,800,000
  Accounts payable                                                          1,517,034           929,634
  Accrued wages and salaries                                                1,210,267           751,582
  Contributions due profit sharing plan                                       330,986           294,986
  Other accrued expenses                                                      505,181           384,110
  Federal and state income taxes payable                                       48,742            82,742
                                                                         ------------      ------------
Total current liabilities                                                   5,412,210         4,243,054

Note payable                                                                  282,760         1,632,760
Deferred income taxes                                                       1,511,275         1,429,275
                                                                         ------------      ------------
Total liabilities                                                           7,206,245         7,305,089
                                                                         ------------      ------------
Commitments and contingencies (Note 4)

Shareholders' Equity:
   Preferred stock, no par value, 500,000 shares
     authorized: none outstanding                                                  --                --
   Common stock, $1.00 par value, 4,000,000 shares
     authorized: 1,138,096 shares issued                                    1,138,096         1,138,096
   Additional paid-in capital                                                 447,134           447,134
   Retained earnings                                                       25,978,521        24,682,816
   Treasury stock, at cost, 171,964 and 170,964 shares, respectively       (3,922,098)       (3,895,122)
                                                                         ------------      ------------
Total shareholders' equity                                                 23,641,653        22,372,924
                                                                         ------------      ------------
Total liabilities and shareholders' equity                               $ 30,847,898      $ 29,678,013
                                                                         ============      ============
</TABLE>


See Notes to the Consolidated Financial Statements


                                       3
<PAGE>

                           CHICAGO RIVET & MACHINE CO.
                      Consolidated Statements of Operations
         For the Three and Nine Months Ended September 30, 2002 and 2001
                                   (Unaudited)

<TABLE>
<CAPTION>
                                              Three Months Ended                  Nine Months Ended
                                                 September 30,                       September 30,
                                        ------------------------------      ------------------------------
                                            2002              2001              2002              2001
                                            ----              ----              ----              ----
<S>                                     <C>               <C>               <C>               <C>
Net sales                               $  9,784,409      $  9,342,407      $ 32,570,837      $ 31,070,990
Lease revenue                                 47,603            56,165           151,357           171,662
                                        ------------      ------------      ------------      ------------
                                           9,832,012         9,398,572        32,722,194        31,242,652
Cost of goods sold and costs
  related to lease revenue                 7,551,109         7,068,030        24,749,263        23,842,571
                                        ------------      ------------      ------------      ------------
Gross profit                               2,280,903         2,330,542         7,972,931         7,400,081
Selling and administrative expenses        1,622,289         1,697,704         5,037,376         5,073,298
                                        ------------      ------------      ------------      ------------
                                             658,614           632,838         2,935,555         2,326,783
Other income and expenses:
 Interest income                              22,116            34,732            63,880           117,946
 Interest expense                            (18,953)          (52,174)          (64,728)         (219,548)
 Gain from disposal of equipment                 954            23,844            30,137            42,436
 Other (expense) income, net                  (3,716)            3,756            11,876            12,058
                                        ------------      ------------      ------------      ------------
Income before income taxes                   659,015           642,996         2,976,720         2,279,675
Provision for income taxes                   224,000           216,000         1,014,000           776,000
                                        ------------      ------------      ------------      ------------
Net income                              $    435,015      $    426,996      $  1,962,720      $  1,503,675
                                        ============      ============      ============      ============
Average common shares outstanding            966,132           967,132           966,674           967,132
                                        ============      ============      ============      ============
Per share data:
  Net income per share                  $       0.45      $       0.44      $       2.03      $       1.55
                                        ============      ============      ============      ============
  Cash dividends declared per share     $       0.18      $       0.18      $       0.69      $       0.79
                                        ============      ============      ============      ============
</TABLE>

See Notes to the Consolidated Financial Statements


                                       4
<PAGE>
                           CHICAGO RIVET & MACHINE CO.
                  Consolidated Statements of Retained Earnings
              For the Nine Months Ended September 30, 2002 and 2001
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                 2002              2001
                                                             ------------      ------------
<S>                                                          <C>               <C>
Retained earnings at beginning of period                     $ 24,682,816      $ 23,828,665

Net income for the nine months ended                            1,962,720         1,503,675

Cash dividends declared in the period,
  $.69 and $.79 per share in 2002 and 2001, respectively         (667,015)         (764,035)
                                                             ------------      ------------
Retained earnings at end of period                           $ 25,978,521      $ 24,568,305
                                                             ============      ============
</TABLE>


See Notes to the Consolidated Financial Statements



                                       5
<PAGE>
                           CHICAGO RIVET & MACHINE CO.
                      Consolidated Statements of Cash Flows
              For the Nine Months Ended September 30, 2002 and 2001
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                         2002             2001
                                                     -----------      -----------
<S>                                                  <C>              <C>
Cash flows from operating activities:
Net income                                           $ 1,962,720      $ 1,503,675
Adjustments to reconcile net income to net cash
  provided by operating activities:
  Depreciation                                         1,431,829        1,418,608
  Net gain on the sale of properties                     (30,137)         (42,436)
  Deferred income taxes                                   82,000           40,000
  Changes in operating assets and liabilities:
    Accounts receivable                               (1,916,883)        (638,794)
    Inventories                                          201,183          878,014
    Other current assets                                 (33,534)        (216,048)
    Accounts payable                                     587,400          431,461
    Accrued expenses                                     615,756           26,789
    Income taxes payable                                 (34,000)         149,785
                                                     -----------      -----------
    Net cash provided by operating activities          2,866,334        3,551,054
                                                     -----------      -----------
Cash flows from investing activities:
  Capital expenditures                                  (863,613)      (1,322,612)
  Proceeds from the sale of properties                    36,024           56,724
  Proceeds from held-to-maturity securities              727,882        2,235,989
  Purchases of held-to-maturity securities            (3,507,733)      (2,483,985)
                                                     -----------      -----------
  Net cash used in investing activities               (3,607,440)      (1,513,884)
                                                     -----------      -----------
Cash flows from financing activities:
  Payments under term loan agreement                  (1,350,000)      (1,350,000)
  Purchase of treasury stock                             (26,976)              --
  Cash dividends paid                                   (667,015)        (764,035)
                                                     -----------      -----------
  Net cash used in financing activities               (2,043,991)      (2,114,035)
                                                     -----------      -----------
Net decrease in cash and cash equivalents             (2,785,097)         (76,865)
Cash and cash equivalents at beginning of period       4,692,999        2,265,442
                                                     -----------      -----------
Cash and cash equivalents at end of period           $ 1,907,902      $ 2,188,577
                                                     ===========      ===========
</TABLE>


See Notes to the Consolidated Financial Statements



                                       6
<PAGE>

                           CHICAGO RIVET & MACHINE CO.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


1. In the opinion of the Company, the accompanying unaudited interim financial
statements contain all adjustments necessary to present fairly the financial
position of the Company as of September 30, 2002 and the results of operations
and changes in cash flows for the indicated periods.

The Company uses estimated gross profit rates to determine the cost of goods
sold during interim periods on a portion of its operations. Actual results could
differ from those estimates and will be adjusted, as necessary, following the
Company's annual physical inventory in the fourth quarter.

The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates.

2. The results of operations for the three and nine-month period ending
September 30, 2002 are not necessarily indicative of the results to be expected
for the year.

3. The Company extends credit primarily on the basis of 30-day terms to various
companies doing business primarily in the automotive industry. The Company has a
concentration of credit risk primarily within the automotive industry and in the
Midwestern United States.

4. The Company is, from time to time, involved in litigation in the normal
course of business. While it is not possible at this time to establish the
ultimate amount of liability with respect to contingent liabilities, including
those related to legal proceedings, management is of the opinion that the
aggregate amount of any such liabilities, for which provision has not been made,
will not have a material adverse effect on the Company's financial position.



                                       7
<PAGE>
                           CHICAGO RIVET & MACHINE CO.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


5. Segment Information--The Company operates in two business segments as
determined by its products. The fastener segment includes rivets, cold-formed
fasteners and screw machine products. The assembly equipment segment includes
automatic rivet setting machines, parts and tools for such machines and the
leasing of automatic rivet setting machines. Information by segment is as
follows:

<Table>
<Caption>
                                                                Assembly
                                              Fastener         Equipment           Other        Consolidated
                                              --------         ---------           -----        ------------
<S>                                        <C>               <C>               <C>              <C>
Three Months Ended September 30, 2002:
Net sales and lease revenue                $  8,027,233      $  1,804,779      $         --     $  9,832,012

Depreciation                                    365,003            52,914            56,922          474,839

Segment profit                                  914,036           452,900                --        1,366,936
Selling and administrative expenses                                                 711,084          711,084
Interest expense                                                                     18,953           18,953
Interest income                                                                     (22,116)         (22,116)
                                                                                                ------------
Income before income taxes                                                                           659,015
                                                                                                ------------
Capital expenditures                            363,379            11,506                --          374,885

Segment assets:
  Accounts receivable, net                    4,680,485         1,231,546                --        5,912,031
  Inventory                                   3,691,359         2,158,126                --        5,849,485
  Property, plant and equipment, net         10,416,025         1,583,933         1,244,474       13,244,432
  Other assets                                       --                --         5,841,950        5,841,950
                                                                                                ------------
                                                                                                  30,847,898
                                                                                                ------------
Three Months Ended September 30, 2001:
Net sales and lease revenue                $  7,748,260      $  1,650,312      $         --     $  9,398,572

Depreciation                                    359,590            60,699            57,422          477,711

Segment profit                                1,099,633           397,111                --        1,496,744
Selling and administrative expenses                                                 836,306          836,306
Interest expense                                                                     52,174           52,174
Interest income                                                                     (34,732)         (34,732)
                                                                                                ------------
Income before income taxes                                                                           642,996
                                                                                                ------------
Capital expenditures                            592,232                --                --          592,232

Segment assets:
  Accounts receivable, net                    4,519,276         1,156,749                --        5,676,025
  Inventory                                   3,698,180         2,627,990                --        6,326,170
  Property, plant and equipment, net         11,039,833         1,794,312         1,379,088       14,213,233
  Other assets                                       --                --         4,939,366        4,939,366
                                                                                                ------------
                                                                                                  31,154,794
                                                                                                ------------
</Table>

                                       8
<PAGE>
                           CHICAGO RIVET & MACHINE CO.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                              Assembly
                                            Fastener          Equipment          Other         Consolidated
                                            --------          ---------          -----         ------------
<S>                                       <C>               <C>               <C>              <C>
Nine Months Ended September 30, 2002:
Net sales and lease revenue               $ 26,405,711      $  6,316,483      $         --     $ 32,722,194

Depreciation                                 1,097,266           164,727           169,836        1,431,829

Segment profit                               3,381,677         1,777,093                --        5,158,770
Selling and administrative expenses                                              2,181,202        2,181,202
Interest expense                                                                    64,728           64,728
Interest income                                                                    (63,880)         (63,880)
                                                                                               ------------
Income before income taxes                                                                        2,976,720
                                                                                               ------------
Capital expenditures                           774,996            13,446            75,171          863,613

Nine Months Ended September 30, 2001:
Net sales and lease revenue               $ 25,042,640      $  6,200,012      $         --     $ 31,242,652

Depreciation                                 1,059,653           182,097           176,858        1,418,608

Segment profit                               2,967,047         1,786,999                --        4,754,046
Selling and administrative expenses                                              2,372,769        2,372,769
Interest expense                                                                   219,548          219,548
Interest income                                                                   (117,946)        (117,946)
                                                                                               ------------
Income before income taxes                                                                        2,279,675
                                                                                               ------------
Capital expenditures                         1,194,605            13,209           114,798        1,322,612
</Table>

                                       9
<PAGE>


                           CHICAGO RIVET & MACHINE CO.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

         Net revenue for the third quarter of 2002 totaled $9,832,012, an
increase of 4.6% compared with the third quarter of 2001. Within the fastener
segment, revenue improved 3.6% compared with the third quarter of 2001 while
revenue within the assembly equipment segment increased 9.4 % compared with the
year earlier period. Historically, third quarter revenues fall short of the
preceding quarters as a result of regularly scheduled vacation shutdowns at our
facilities as well as at many of our customers and that was again the case in
2002. On a year to date basis, net revenue for the first nine months of 2002
amounted to $32,722,194, a 4.7% increase compared with the first nine months of
2001. Within the fastener segment, year to date revenue is 5.4% higher than that
reported one year ago while revenue within the assembly equipment segment
increased a more modest 1.9% compared with the first nine months of 2001. These
improvements are primarily attributable to a combination of new business and
modest increases in activity at certain customers and are not indicative of a
widespread improvement in market conditions.

         While we are pleased with the revenue gains that were attained despite
difficult market conditions, our operating results were somewhat disappointing.
Within our primary markets, the combination of weak demand and excess capacity
continue to limit our ability to obtain the price relief necessary to offset the
impact of rising costs of manufacturing. Customers within the automotive
markets, in particular, continue to press for price reductions. These conditions
have had a negative impact on operating profits, and this was especially evident
in the results for the fastener segment during the third quarter of this year.
While selling prices were under pressure, the tariffs imposed upon steel
products contributed to an overall increase in the cost of raw materials.
Margins within the fastener segment were also adversely affected by higher costs
for employee health insurance and higher expenses related to resolving specific
quality control issues. Within the assembly equipment segment, slightly higher
volumes were the primary factor contributing to an improvement in gross margins
for the period. Net income for the third quarter of 2002 amounted to $435,015,
or $.45 per share on 966,674 average shares outstanding, compared with $426,996,
or $.44 per share on 967,132 average shares outstanding during the third quarter
of 2001.

         On a year to date basis, gross margin percentages within the assembly
equipment segment are slightly below those of the first nine months of 2001,
primarily due to increases in the cost of raw materials, labor and employee
insurance. Year to date results within the fastener segment continue to show
improvement compared with the prior year, despite third quarter results.
Operating results for the first nine months were positively impacted by
increased operating volumes, combined with lower expenses for tooling and
utilities, compared with the prior year. These improvements have been partially
offset by increases in the cost of health insurance, higher labor rates, and
recently, the impact of tariffs upon the price of raw material. Net income for
the first nine months of this year amounted to $1,962,720, or $2.03 per share on
966,674 average shares outstanding, compared with $1,503,675, or $1.55 per share
on 967,132 average shares outstanding during the first nine months of 2001.

         Selling and administrative expenses, in total, declined modestly during
both the third quarter and the first nine months of 2002 compared with the same
periods in 2001. During the third quarter, increases in salaries, commissions
and insurance costs were fully offset by a decrease in the provision for bad
debts. During the third quarter of 2001, bad debt expense was unusually high due
to a bankruptcy filing of a large customer.

         Working capital at the end of the third quarter amounted to $12.2
million, approximately equal to the end of the second quarter and an increase of
$.6 million year to date. Capital expenditures during the quarter were primarily
related to equipment used in the manufacture of fasteners. At September 30,
2002, the balance on the term note was $2.1 million and the interest rate was
approximately 2.8%. The Company also has a $1.0 million line of credit available
through Bank of America, N.A. There is no charge for this facility until it is
utilized. We believe that current cash, cash equivalents and the available
credit facility will be sufficient to meet the Company's working capital needs
for the foreseeable future.

         We do not anticipate a significant improvement in overall business
conditions in the near term. Within the fastener segment, excess capacity is
likely to limit our ability to increase prices enough to fully offset increases
in manufacturing costs. We also expect that automotive customers will continue
to press for price reductions. In response, we will continue our efforts to hold
the line on expenses, reduce costs wherever possible and to continue our efforts
to secure new, profitable business from both new and existing customers.

The foregoing discussion is only intended to provide highlights of operations
for the periods covered. Additional information is contained in our Form 10-Q,
which has been filed with the SEC and is available to shareholders upon request
from the Company, or via the internet through the SEC's EDGAR database. This
discussion contains certain


                                       10

<PAGE>

"forward-looking statements" which are inherently subject to risks and
uncertainties that may cause actual events to differ materially from those
discussed herein. Factors which may cause such differences in events include,
among other things, our ability to maintain our relationships with our
significant customers; increases in the prices of, or limitations on the
availability of, our primary raw materials; or a downturn in the automotive
industry, upon which we rely for sales revenue, and which is cyclical and
dependent on, among other things, consumer spending, international economic
conditions and regulations and policies regarding international trade. Many of
these factors are beyond our ability to control or predict. Readers are
cautioned not to place undue reliance on these forward-looking statements. We
undertake no obligation to publish revised forward-looking statements to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.







                                       11
<PAGE>
                           CHICAGO RIVET & MACHINE CO.

           QUANTITATIVE AND QUALITATIVE INFORMATION ABOUT MARKET RISK

         Over time, the Company is exposed to market risks arising from changes
in interest rates. The Company has not historically used derivative financial
instruments. As of September 30, 2002, $2.1 million of floating-rate debt was
exposed to changes in interest rates compared to $3.4 million as of December 31,
2001. This exposure was primarily linked to the London Inter-Bank Offering Rate
and the lender's prime rate under the Company's term loan. A hypothetical 10%
change in these rates would not have had a material effect on the Company's
quarterly earnings.




         CONTROLS AND PROCEDURES

         (a) Evaluation of Disclosure Controls and Procedures. The Company's
Chief Executive Officer and Chief Financial Officer have evaluated the
effectiveness of the Company's disclosure controls and procedures (as such term
is defined in Rules 13a-14(c) and 15d-14(c) under the Securities Exchange Act of
1934, as amended (the "Exchange Act")) as of a date within 90 days prior to the
filing date of this quarterly report (the "Evaluation Date"). Based on such
evaluation, such officers have concluded that, as of the Evaluation Date, the
Company's disclosure controls and procedures are effective in alerting them on a
timely basis to material information relating to the Company (including its
consolidated subsidiary) required to be included in the Company's periodic
filings under the Exchange Act.

         (b) Changes in Internal Controls. Since the Evaluation Date, there have
not been any significant changes in the Company's internal controls or in other
factors that could significantly affect such controls.









                                       12
<PAGE>
                          PART II -- OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K

          (a)  Exhibits

                    99.1 Interim Report to Shareholders for the quarter ended
                         September 30, 2002.

                    99.2 Certification of CEO Pursuant to 18 U.S.C. Section
                         1350, as Adopted Pursuant to Section 906 of the
                         Sarbanes-Oxley Act of 2002.

                    99.3 Certification of CFO Pursuant to 18 U.S.C. Section
                         1350, as Adopted Pursuant to Section 906 of the
                         Sarbanes-Oxley Act of 2002.

          (b)  Reports on Form 8-K

                    No reports on Form 8-K were filed during the current period.





                                       13
<PAGE>

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                             CHICAGO RIVET & MACHINE CO.
                                             -----------------------------------
                                                      (Registrant)

Date:  November 1, 2002
                                             /s/  John A. Morrissey
                                             -----------------------------------
                                             John A. Morrissey
                                             Chairman of the Board of Directors
                                               and Chief Executive Officer


Date:  November 1, 2002
                                             /s/  John C. Osterman
                                             -----------------------------------
                                             John C. Osterman
                                             President, Chief Operating
                                               Officer and Treasurer
                                               (Principal Financial Officer)


Date:  November 1, 2002

                                             /s/  Michael J. Bourg
                                             -----------------------------------
                                             Michael J. Bourg
                                             Controller (Principal Accounting
                                               Officer)



                                       14
<PAGE>


CERTIFICATIONS

I, John A. Morrissey, certify that:

         1. I have reviewed this quarterly report on Form 10-Q of Chicago Rivet
         & Machine Co.;

         2. Based on my knowledge, this quarterly report does not contain any
         untrue statement of a material fact or omit to state a material fact
         necessary to make the statements made, in light of the circumstances
         under which such statements were made, not misleading with respect to
         the period covered by this quarterly report;

         3. Based on my knowledge, the financial statements, and other financial
         information included in this quarterly report, fairly present in all
         material respects the financial condition, results of operations and
         cash flows of the registrant as of, and for, the periods presented in
         this quarterly report;

         4. The registrant's other certifying officers and I are responsible for
         establishing and maintaining disclosure controls and procedures (as
         defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and
         we have:

         a)    designed such disclosure controls and procedures to ensure that
               material information relating to the registrant, including its
               consolidated subsidiaries, is made known to us by others within
               those entities, particularly during the period in which this
               quarterly report is being prepared;

         b)    evaluated the effectiveness of the registrant's disclosure
               controls and procedures as of a date within 90 days prior to the
               filing date of this quarterly report (the "Evaluation Date"); and

         c)    presented in this quarterly report our conclusions about the
               effectiveness of the disclosure controls and procedures based on
               our evaluation as of the Evaluation Date;

         5. The registrant's other certifying officers and I have disclosed,
         based on our most recent evaluation, to the registrant's auditors and
         the audit committee of registrant's board of directors (or persons
         performing the equivalent function):

         a)    all significant deficiencies in the design or operation of
               internal controls which could adversely affect the registrant's
               ability to record, process, summarize and report financial data
               and have identified for the registrant's auditors any material
               weaknesses in internal controls; and

         b)    any fraud, whether or not material, that involves management or
               other employees who have a significant role in the registrant's
               internal controls; and

         6. The registrant's other certifying officers and I have indicated in
         this quarterly report whether or not there were significant changes in
         internal controls or in other factors that could significantly affect
         internal controls subsequent to the date of our most recent evaluation,
         including any corrective actions with regard to significant
         deficiencies and material weaknesses.


         Date:  November 1, 2002         /s/   JOHN A. MORRISSEY
                                         -----------------------------
                                               John A. Morrissey
                                                    Chairman



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<PAGE>



I, John C. Osterman, certify that:

         1. I have reviewed this quarterly report on Form 10-Q of Chicago Rivet
         & Machine Co.;

         2. Based on my knowledge, this quarterly report does not contain any
         untrue statement of a material fact or omit to state a material fact
         necessary to make the statements made, in light of the circumstances
         under which such statements were made, not misleading with respect to
         the period covered by this quarterly report;

         3. Based on my knowledge, the financial statements, and other financial
         information included in this quarterly report, fairly present in all
         material respects the financial condition, results of operations and
         cash flows of the registrant as of, and for, the periods presented in
         this quarterly report;

         4. The registrant's other certifying officers and I are responsible for
         establishing and maintaining disclosure controls and procedures (as
         defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and
         we have:

         a)    designed such disclosure controls and procedures to ensure that
               material information relating to the registrant, including its
               consolidated subsidiaries, is made known to us by others within
               those entities, particularly during the period in which this
               quarterly report is being prepared;

         b)    evaluated the effectiveness of the registrant's disclosure
               controls and procedures as of a date within 90 days prior to the
               filing date of this quarterly report (the "Evaluation Date"); and

         c)    presented in this quarterly report our conclusions about the
               effectiveness of the disclosure controls and procedures based on
               our evaluation as of the Evaluation Date;

         5. The registrant's other certifying officers and I have disclosed,
         based on our most recent evaluation, to the registrant's auditors and
         the audit committee of registrant's board of directors (or persons
         performing the equivalent function):

         a)    all significant deficiencies in the design or operation of
               internal controls which could adversely affect the registrant's
               ability to record, process, summarize and report financial data
               and have identified for the registrant's auditors any material
               weaknesses in internal controls; and

         b)    any fraud, whether or not material, that involves management or
               other employees who have a significant role in the registrant's
               internal controls; and

         6. The registrant's other certifying officers and I have indicated in
         this quarterly report whether or not there were significant changes in
         internal controls or in other factors that could significantly affect
         internal controls subsequent to the date of our most recent evaluation,
         including any corrective actions with regard to significant
         deficiencies and material weaknesses.


         Date:  November 1, 2002         /s/     JOHN C. OSTERMAN
                                         --------------------------------
                                                 John C. Osterman
                                                President/Treasurer


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<PAGE>

CHICAGO RIVET & MACHINE CO.

EXHIBITS


INDEX TO EXHIBITS


Exhibit
Number                                                                     Page
                                                                           -----

  99.1     Interim Report to Shareholders for the
                  quarter ended September 30, 2002                         18-19

  99.2     Certification of CEO Pursuant to 18 U.S.C. Section 1350,
                  as Adopted Pursuant to Section 906 of the
                  Sarbanes-Oxley Act of 2002                                 20

  99.3     Certification of CFO Pursuant to 18 U.S.C. Section 1350,
                  as Adopted Pursuant to Section 906 of the
                  Sarbanes-Oxley Act of 2002                                 21




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