Exhibit 99
[Midwest Grain Products Logo and Address]

News Release

FOR IMMEDIATE RELEASE: MIDWEST GRAIN REPORTS SECOND
QUARTER EARNINGS IMPROVEMENT

ATCHISON, Kan., February 8, 2001--Ladd Seaberg, president and chief executive
officer of Midwest Grain Products, Inc. (MWGP), today announced that the
company's results for the second quarter of fiscal 2001 showed an improvement
over the same period the prior year. Net income for the quarter, which ended
Dec. 31, 2000, was $1,724,000, or 20 cents per share, on sales of $58,489,000.
That compares to net income of $1,563,000, or 17 cents per share, on sales of
$59,962,000 that the company experienced in the second quarter of fiscal 2000.

The second quarter earnings more than offset a net loss of $395,000 that was
incurred in the first quarter of fiscal 2001. As a result, Midwest Grain posted
net income of $1,329,000, or 16 cents per share, on sales of $116,786,000 for
the first six months of the year. For the first six months of fiscal 2000, the
company had net income of $2,314,000, or 25 cents per share, on sales of
$114,937,000. The company's earnings before interest, taxes, depreciation and
amortization in the current year's first six months was $9,426,000 compared to
$11,328,000 in the first half of the prior year.

Seaberg noted that the improvement in second quarter profitability occurred
notwithstanding a substantial jump in utility costs over the prior year. He
attributed the earnings increase mainly to the effects of heightened demand for
the company's fuel grade alcohol, or ethanol as it is commonly known. As
previously announced, the increased demand has occurred partially as the result
of widespread concerns over the use of MTBE, a synthetically derived fuel
oxygenate that has shown to be harmful to groundwater supplies. "Our country
more and more is realizing the merits of natural, grain-based alcohol for use in
motor fuels," Seaberg said. "Clean-burning and derived from a renewable source,
it not only provides a wonderful market for American farmers, but helps reduce
America's dependence on and subjugation to foreign oil producers." In response
to increased second quarter demand, the company raised fuel alcohol production
levels, while also making positive price adjustments.

The company also experienced increased selling prices for its food grade
alcohol for beverage applications due to increased demand for that product.
However, sales of food grade alcohol for both beverage and industrial uses were
reduced in the second quarter, principally due to lower sales in export markets
but partially as the result of the company's strategy to shift more of its
alcohol production mix to the fuel grade area. "This strategy is prompted by the
strong demand we are experiencing in the fuel market and by plans to participate
in an incentive program recently initiated by the U.S. Department of
Agriculture," Seaberg said. In December, the Agriculture Department took action
to provide a two-year cash incentive for ethanol producers who increase their
grain consumption by specified amounts to raise fuel grade alcohol production.
"We expect to meet the eligibility requirements for this program, which should
begin taking effect in the current quarter," Seaberg said. "Meanwhile, the
recent installation of new distillation columns and related distillery
enhancements at our Atchison, Kansas, plant are allowing us to realize improved
food grade alcohol production efficiencies and to set the industry standard for
high purity, high quality premium products," Seaberg said.

The company's wheat starch sales, while down in total unit volume, remained
relatively strong due largely to a sizeable portion of sales continuing to occur
in markets served by the company's value-added modified starches, Seaberg
explained. Demand for the company's specialty wheat proteins remained on an
upward track in the second quarter. As recently announced, the company is
acquiring a state-of-the-art manufacturing facility in Kansas City, Kan. The
facility will be used primarily for the production of Wheatex, the company's
unique line of textured wheat proteins that are used to improve the taste and
texture of vegetarian and extended meat products. Expected to be finalized
tomorrow at a cost of approximately $6.5 million, the purchase replaces Midwest
Grain's previous plan to construct a Wheatex plant at a similar cost.

-more-


ADD 1--MIDWEST GRAIN REPORTS SECOND QUARTER EARNINGS

"As I indicated in a previous announcement, the acquisition of this facility
will allow us to more rapidly step up our production of textured wheat
proteins," Seaberg said. "Additionally, relative to our original plan, this
facility provides more space and greater flexibility to produce other lines of
value-added specialty wheat proteins," he added. In addition to Wheatex, the
company also produces and markets specialty wheat proteins for bakery and pasta
applications, nutritional drinks, cosmetics and personal care products, pet
treats and environmentally-friendly biodegradable products.

As was the case in the first quarter, sales of the company's vital wheat
gluten decreased compared to the same period a year ago due to an increase in
available supplies and resulting pricing pressures in that market. "Because we
are seeing no change in conditions at this time, we have taken measures to
reduce and more selectively market our gluten volume in the current quarter,"
Seaberg said. "If not for the quota that was placed on wheat gluten imports by
former President Clinton, I am certain that conditions in our domestic gluten
market would be made even more severe by the predatory practices of subsidized
competition from the European Union (E.U.)."

According to Seaberg, recent attempts by the E.U. to have the three-year-long
quota terminated prior to its official ending date of May 31, 2001 thus far have
proved unsuccessful. Although a recent ruling by the Appellate Body of the World
Trade Organization (WTO) confirmed a previous ruling that the safeguard action
implementing the quota was inconsistent with the United States' obligations
under the WTO Agreement on Safeguards, the U.S. has a reasonable period of time
to bring its safeguard action into conformity with such obligations. Seaberg
expects that this could occur within approximately 120 days. In addition, the
company believes that the President may not withdraw the safeguard before the
U.S. International Trade Commission (USITC) has had an opportunity to bring it
into conformity with the Appellate Body decision, and therefore expects the
present quota to remain in place until its scheduled May 31 termination date.

In a related event, the Wheat Gluten Industry Council of the U.S. has
formally requested a two-year extension of the quota. The request is based on
grounds that through circumvention and similar tactics, E.U. producers have
deliberately and effectively prevented the U.S. industry from receiving the full
extent of relief that the quota intended. The request was filed with the USITC,
which in turn has scheduled a hearing on the issue in late February. A decision
is expected to be made prior to May 31. If an extension is not granted, the
company expects competitive pressures from the E.U. to become more pronounced.

"The current oversupply situation in the wheat gluten market is expected to
adversely affect our third quarter performance," Seaberg said. "Additionally,"
he continued, "like natural gas customers of all sizes across the country, we
are faced with significant rate hikes, which last month reached record levels.
As a result, we anticipate that the astronomical rise in natural gas prices will
have an even more severe impact on the third quarter's earnings."

Seaberg noted that, while the majority of Midwest Grain's energy needs are
satisfied by natural gas, the company has been able to use less expensive fuel
oil for at least a portion of its operations during the current period. "This
helps soften the blow while we explore various ways to make more efficient use
of our energy and further enhance our risk management program," he said.

Seaberg emphasized that conditions continue to look very promising for the
company's value-added wheat proteins and starches. "We are continuing to build
on our marketing capabilities and successes and to aggressively focus on
strengthening our market presence in targeted areas. This includes seriously
investigating possibilities for partnerships and/or acquisitions that will help
broaden the value-added dimensions of our business."

This news release contains forward-looking statements as well as historical
information. Forward-looking statements are identified by or are associated with
such words as "intend," "believe," "estimate," "expect," "anticipate,"
"hopeful," "should," "may" and similar expressions. They reflect management's
current beliefs and estimates of future economic circumstances, industry
conditions, company performance and financial results and are not guarantees of
future performance. The forward-looking statements are based on many assumptions
and factors, including those relating to grain prices, gasoline prices, energy
costs, product pricing, competitive environment and related marketing
conditions, operating efficiencies, access to capital and actions of governments
or government officials. Any changes in the assumptions or factors could produce
materially different results than those predicted and could impact stock values.

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