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FOR IMMEDIATE RELEASE

MGP INGREDIENTS, INC. SCHEDULES FIRST QUARTER 2003
FINANCIAL RELEASE DATE, CONFERENCE CALL

ATCHISON, Kan., October 16, 2002 - MGP Ingredients, Inc. will report FY
2003 first quarter financial results prior to the opening of the market on
Tuesday, November 12, to be followed by an investor conference call at 9:00 a.m.
CT that day.

Participating in the conference call will be Ladd Seaberg, President and
Chief Executive Officer; Steve Pickman, Vice President of Corporate
Communications; Brian T. Cahill, Vice President and Chief Financial Officer; and
Mike Trautschold, Executive Vice President of Marketing and Sales. They will
review the company's first quarter results.

Interested persons may listen to the conference call via telephone by
dialing (888) 417-2310 before 8:55 a.m., or access it on the Internet at
www.mgpingredients.com.

Formerly known as Midwest Grain Products, Inc., the company was renamed MGP
Ingredients, Inc. on Oct. 10 to reflect a greatly increased focus on the
development, production and marketing of specialty ingredients derived from
natural sources. The company is a pioneer in producing and marketing value-added
proteins and starches derived primarily from wheat. In addition, the company
produces natural food-grade alcohol for use in beverage, food and industrial
applications, and fuel grade alcohol, commonly known as ethanol.

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