MGP Ingredients, Inc. Concludes Review of Strategic Alternatives

MGP Ingredients, Inc. Concludes Review of Strategic Alternatives

ATCHISON, Kan., Nov. 8, 2013 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc.
(Nasdaq:MGPI) (the "Company") today announced that the Special Committee of
MGP's Board of Directors (the "Special Committee") has concluded its
previously announced review of the Company's strategic alternatives. The
Special Committee has determined the best approach at this time to enhance
long-term shareholder value is to continue execution of the Company's
strategic plan to reposition the business for profitable growth.

John R. Speirs, Chairman of MGP commented, "After a thorough review, it became
clear that the best path to create value for shareholders was to build
momentum with MGP's current strategy. We will strive toward stronger cash
flows from our bulk industrial alcohol business, while increasing the
percentage of sales derived from higher margin premium spirits and specialty
food ingredients."

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 mgpingredients.com.

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 facility or Indiana Distillery, (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 viability of the Illinois Corn
Processing, LLC ("ICP") joint venture and its ability to obtain financing,
(vii) our ability to maintain compliance with all applicable loan agreement
covenants, (viii) our ability to realize operating efficiencies, (ix) actions
of governments, (x) and 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 www.sec.gov.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 http://ir.mgpingredients.com/annuals.cfm. 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: For More Information

         Investors & Analysts:
         George Zagoudis, Investor Relations
         913-360-5441 or george.zagoudis@mgpingredients.com
        
         Media:
         Shanae Randolph, Corporate Director of Communications
         913-367-1480 or shanae.randolph@mgpingredients.com

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