If it's partly exposed, try using a good set of vice grips to twist it out. If that doesn't work, buy a rusted/rounded off bolt and nut remover from sears. If it's not exposed, Drill it out, use a cobalt or titanium drill bit that's slightly smaller than the hub so you don't damage the hub, then rethread the hub with a tap and die set. Though I'm not sure that's somethind I'd do to a part that holds the wheels on...