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FOR IMMEDIATE RELEASE

      MIDWEST GRAIN PRODUCTS, INC. TO CHANGE NAME TO MGP INGREDIENTS, INC.

     ATCHISON,  Kan.,  August  28,  2002 -- Holders  of the  preferred  stock of
Midwest Grain Products, Inc. (MWGP) yesterday approved a change in the company's
name to MGP  Ingredients,  Inc. The change is  scheduled to become  effective on
Oct. 10, 2002.

     "In recent years,  our business has evolved with a greatly  increased focus
on  the  development,   production  and  marketing  of  specialty   ingredients,
principally  proteins  and starches  derived  from  wheat,"  said Ladd  Seaberg,
President  and CEO. "The  rebranding  of our company  bolsters our position as a
premier supplier of ingredient solutions to the marketplace."

     The name change follows "some of the most extensive  strategic planning our
company has ever conducted," Seaberg explained.  "For most of our existence,  we
positioned   ourselves   primarily  as  a  supplier  of  commodity   wheat-based
ingredients  and  alcohol  products.  While  these  products  still  represent a
sizeable portion of our overall business, our strategy for growth is to focus on
providing  innovative  specialty  ingredients  for our customers  across a wider
range of product categories."

     The company is taking a number of steps to support this change, including a
recent  reorganization  of its sales,  marketing  and research  and  development
staffs.  Sales personnel have been relocated to specific  geographic  regions to
enable closer customer contact,  while a product management team has been formed
to provide  specialized  product and market  assistance to the sales staff.  The
research  and  development  group has been  strengthened  to provide more direct
technical support to customers as well as develop and refine new ingredients for
the  future.  The  company is also  creating a new  corporate  logo and  revised
company graphics.

     "Our overriding goal for this process is to help customers turn their ideas
into reality," said Mike Trautschold,  executive vice-president of marketing and
sales.  "We know that our customers are looking for partners that can accelerate
product  success  and  positively  impact  their  results.  Our  investments  in
technical expertise and sales support make us well-poised to accomplish this."

     The company's  wholly owned  subsidiary in Pekin,  Illinois,  Midwest Grain
Products of Illinois, Inc., will begin operating as MGP Ingredients of Illinois,
Inc. effective Oct. 10.

     There will be no need for holders of Midwest Grain  Products,  Inc.  common
stock certificates to exchange their existing shares as a result of the upcoming
name change. Existing Midwest Grain Products, Inc. certificates will continue to
be valid. Effective with the change, however, the company's ticker symbol on the
NASDAQ National Market will become MGPI.

     Midwest  Grain  Products,  Inc.  is a pioneer in  producing  and  marketing
value-added proteins and starches derived from wheat. In addition, Midwest Grain
produces  natural  food-grade  alcohol for use in beverage,  food and industrial
applications,  and fuel grade alcohol, commonly known as ethanol. The company is
headquartered in Atchison,  Kansas, and owns and operates production  facilities
in Pekin, Illinois and Kansas City, Kansas.

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