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For Immediate Release

               MGP Ingredients, Inc. Schedules First Quarter 2003
                     Financial Release Date, Conference Call


     ATCHISON,  Kan.,  November 8, 2002 - MGP Ingredients,  Inc. will report its
fiscal 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 a.m.
central  time  that  day.  Participating  in the  conference  call  will be Ladd
Seaberg, President and Chief Executive Officer; Steve Pickman, Vice President of
Corporate  Relations;  Brian 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  and  certain   forward-looking
information.

     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.

     Additionally,  Seaberg and  Trautschold  will deliver a presentation  at an
institutional  investor  conference arranged by The Wall Street Analyst Forum on
November 13 at which  forward-looking  information maybe given. The presentation
will be carried by a simultaneous  webcast beginning at approximately 11:30 a.m.
central time. The webcast may be accessed at www.mgpingredients.com.

     In  business  for more than half a  century,  MGP  Ingredients,  Inc.  is a
recognized  pioneer in the  development  and  production of natural  grain-based
products. The company has facilities in Atchison,  Kan., Pekin, Ill., and Kansas
City, Kan. that utilize the latest  technologies to assure high quality products
and to maintain efficient production and service capabilities.

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