ISS Recommends Against Cray Group Governance Proposals

ISS Recommends Against Cray Group Governance Proposals

MGP Urges Stockholders to Vote the WHITE Proxy Card to Support Strong,
Independent Leadership at MGP

ATCHISON, Kan., Aug. 15, 2013 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc.
(Nasdaq:MGPI) (the "Company") today commented on the report issued by
Institutional Shareholder Services (ISS), a leading provider of proxy voting
advisory services to institutions and other professional investors, regarding
the director nominees and proposals to be voted upon at MGP's Annual Meeting
of Stockholders to be held on August 23, 2013.

MGP's Independent Directors issued the following statement in response to the
ISS report:

"ISS' recommendation against the Cray Group's proposals underscores the danger
for common stockholders in turning over even more control of MGP to the Cray
family. We are pleased that ISS recognizes the self-serving nature of the Cray
Group's proposals and their attempt to turn MGP into a quasi-private company
at the expense of the common stockholders."

The ISS report dated August 15, 2013 states:

  *"Approval of this proposal along with other proposals brought forward by
    the dissidents would enable the Cray family to accelerate the removal of B
    directors, including those independent directors who have recently, in an
    open letter to shareholders, opposed the proponents and expressed their
    intent to fulfill their fiduciary duties and work in the best interest of
    all shareholders."
  *"While the ability to call special meetings generally enhances the rights
    of shareholders, the dissident is the most likely beneficiary of the
    proposed special meeting right and could use such right to strengthen
    board control to the detriment of common shareholders."

The Independent Directors continued, "We believe ISS' analysis regarding
director nominees contradicts their recognition that the Cray Group should not
receive more control at MGP. Chairman John Speirs is an exceptional,
independent director who is committed to driving value for all stockholders,
and we encourage stockholders to support his nomination by voting the WHITE
proxy card."

As announced on August 13, 2013, Glass Lewis & Co, LLC, also a leading
provider of proxy voting advisory services, recommends stockholders support
MGP's current management team and Independent Directors by voting FOR the
Company's director nominees on the Company's WHITE proxy card. In their
report, Glass Lewis said:

  *"Given that the Cray Group already exerts significant influence over the
    Company through its ownership of 92% of the preferred shares, giving it
    the right to elect five of the Company's nine directors, and 27.5%
    ownership of the common shares, we believe it is particularly important in
    this case for independent directors to maintain their current position. In
    our view, in light of recent actions, the independent directors are more
    likely to act in the best interests of all shareholders than is the Cray

If you have questions about how to vote your shares, or need additional
assistance, please contact the firm assisting us in the solicitation of proxy
Innisfree M&A Incorporated
Stockholders Call Toll-Free: (888) 750-5834
Banks and Brokers Call: (212) 750-5833
Vote the White Proxy Card today!

The Company's proxy statement and annual report on Form 10-K for the year
ended December 31, 2012, are available at the following website that can be
accessed anonymously:

About MGP Ingredients

MGP is a leading independent supplier of premium spirits, offering flavor
innovations and custom distillery blends to the beverage alcohol industry. The
Company also produces high quality food grade industrial alcohol and
formulates grain-based starches and proteins into nutritional, as well as
highly functional, innovations for the branded consumer packaged goods
industry. Distilled spirits are produced at facilities in the adjacent towns
of Lawrenceburg and Greendale, Indiana. The Company is headquartered in
Atchison, Kansas, where a variety of distilled alcohol products and food
ingredients are manufactured. For more information, visit

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements as well as historical
information. Forward-looking statements are usually identified by or are
associated with such words as "intend," "plan," "believe," "estimate,"
"expect," "anticipate," "hopeful," "should," "may," "will," "could,"
"encouraged," "opportunities," "potential" and/or the negatives of these terms
or variations of them or similar terminology. 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. All such forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to differ
materially from those contemplated by the relevant forward-looking statement.
Investors should not place undue reliance upon forward-looking statements and
the Company undertakes no obligation to publicly update or revise any
forward-looking statements. Important factors that could cause actual results
to differ materially from our expectations include, among others: (i)
disruptions in operations at our Atchison or Indiana facilities, (ii) the
availability and cost of grain and fluctuations in energy costs, (iii) the
effectiveness of our hedging strategy, (iv) the competitive environment and
related market conditions, (v) the ability to effectively pass raw material
price increases on to customers, (vi) the ability to effectively operate the
Illinois Corn Processing, LLC ("ICP") joint venture, (vii) our ability to
maintain compliance with all applicable loan agreement covenants, (viii) our
ability to realize operating efficiencies, (ix) actions of governments and (x)
consumer tastes and preferences. For further information on these and other
risks and uncertainties that may affect our business, including risks specific
to our Distillery and Ingredient segments, see Item 1A. Risk Factors of our
Annual Report on Form 10-K for the year ended December 31, 2012, as updated by
Item 1A. Risk Factors of our Quarterly Report on Form 10-Q for the quarterly
period ended June 30, 2013.

Important Additional Information

The definitive proxy statement, any other relevant documents and other
materials filed with the SEC concerning the Company are available free of
charge at For a copy of final definitive materials with respect
to 2013 Annual Meeting, including Amendment No. 3 of the supplement to the
proxy statement, please see Voting
remains open to stockholders of record at the close of business on April 3,
2013. Stockholders should carefully read the definitive proxy statement,
including supplements thereto, before making any voting decision.

The Company and its directors, director nominees, the Company's chief
executive officer and its chief financial officer (the "Participants") may be
deemed to be participants in the solicitation of proxies in connection with
the 2013 Annual Meeting.Information regarding the Participants in the
solicitation is more specifically set forth in the definitive proxy statement
and the proxy statement supplement that were filed by the Company with the SEC
and which are available free of charge from the SEC and the Company, as
indicated above.

CONTACT: Investors & Analysts:
         George Zagoudis, Investor Relations
         913-360-5441 or
         Shanae Randolph, Corporate Director of Communications
         913-367-1480 or

MGP Ingredients, Inc. Logo
Press spacebar to pause and continue. Press esc to stop.