{\rtf1\deflang1033\deflangfe1033\margl720\margr720\margt360\margb360{\stylesheet{\fs20\lang1033\snext0 Normal;} {\s1\sb240\keepn{\*\pn \pnlvl1\pndec\pnprev1\pnstart1\pnsp144}\b\f0\fs30\lang1033 \sbasedon0\snext0 heading 1;} {\s2\sb200\keepn{\*\pn \pnlvl2\pndec\pnprev1\pnstart1\pnsp144{\pntxtb.}}\b\f0\fs26\lang1033 \sbasedon0\snext0 heading 2;} {\s3\sb180\keepn{\*\pn \pnlvl3\pndec\pnprev1\pnstart1\pnsp144{\pntxtb.}}\b\f0\fs22\lang1033 \sbasedon0\snext0 heading 3;} {\s4\sb160\keepn{\*\pn \pnlvl4\pnucltr\pnprev1\pnstart1\pnsp144{\pntxtb.}}\b\f0\fs22\lang1033 \sbasedon0\snext0 heading 4;} {\s5\sb140\keepn{\*\pn \pnlvl5\pncltr\pnprev1\pnstart1\pnsp144}\b\f0\fs20\lang1033 \sbasedon0\snext0 heading 5;} {\s6\tqc\lang1033\sbasedon0\snext6 footer;} {\*\cs16 \additive\super\sbasedon10 footnote reference;} {\*\cs18 \additive\sbasedon10 page number;}} {\fonttbl{\f0\fnil Times New Roman;}{\f1\fnil Courier New}{\f2005\fnil Courier New;}{\f2010\fnil Wingdings;}{\f2020\fnil Webdings;}{\f2\fnil Arial;}{\f3\fnil Arial;}{\f4\fnil LucidaHandwriting;}{\f5\fnil Symbol;}{\f6\fnil Symbol;}{\f7\fnil Ferdsch;}{\f30\fnil Myriad Cn Semibold;}{\f31\fnil Myriad Roman;}{\f50\fnil Courier New;}{\f51\fnil Times New Roman;}{\f52\fnil Arial;}{\f53\fnil Symbol;}{\f54\fnil Wingdings;}{\f55\fnil Wingdings 2;}{\f56\fnil Wingdings 3;}{\f57\fnil Webdings;}{\f58\fnil Arial Narrow;}{\f59\fnil Arial Unicode MS;}{\f60\fnil Cyberbit;}{\f61\fnil Morningstar 1U Light;}{\f62\fnil Calibri;}} {\colortbl;\red0\green0\blue0;\red127\green0\blue0;\red0\green0\blue255;\red127\green127\blue127;\red0\green51\blue153;\red255\green204\blue0;\red255\green255\blue255;\red246\green244\blue236;\red0\green0\blue0;} {\*\bkmkstart filing_1}{\*\bkmkend filing_1}{\*\bkmkstart doc_1_1}{\*\bkmkend doc_1_1}\par\pard\plain\cf1\f51\fs24\b\qc UNITED STATES\par\pard\plain\cf1\f51\fs24\b\qc SECURITIES AND EXCHANGE COMMISSION\par\pard\plain\cf1\f51\fs20\b\qc Washington, D. C.\~\~20549 \par\pard\plain\fs16 \par\pard\plain\fs16\par\pard\plain\cf1\f51\fs24\b\qc FORM 8-K\par\pard\plain\cf1\f51\fs20\ql \~\par\pard\plain\cf1\f51\fs24\b\qc CURRENT REPORT\par\pard\plain\cf1\f51\fs20\b\qc Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 \par\pard\plain\fs16 \par\pard\plain\fs16\par\pard\plain\cf1\f51\fs20\qc Date of Report (Date of earliest event reported): April\~11,\~2013 \par\pard\plain\fs16 \par\pard\plain\fs16\par\pard\plain\cf1\f51\fs26\b\qc MGP Ingredients, Inc.\par\pard\plain\cf1\f51\fs20\qc (Exact name of registrant as specified in its charter) \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain {\trowd\cellx3564\cellx7235\cellx10800\trrh248 \pard\plain\intbl\cf1\f51\fs20\b\qc KANSAS\cell\pard\plain\intbl\cf1\f51\fs20\b\qc 0-17196\cell\pard\plain\intbl\cf1\f51\fs20\b\qc 45-4082531\cell{ {\trowd\cellx3564\cellx7235\cellx10800\trrh248\row}}} {\trowd\cellx3564\cellx7235\cellx10800\trrh495 \pard\plain\intbl\cf1\f51\fs20\qc (State or other jurisdiction\par\pard\plain\intbl\cf1\f51\fs20\qc of incorporation)\cell\pard\plain\intbl\cf1\f51\fs20\qc (Commission\par\pard\plain\intbl\cf1\f51\fs20\qc File Number)\cell\pard\plain\intbl\cf1\f51\fs20\qc (IRS Employer\par\pard\plain\intbl\cf1\f51\fs20\qc Identification No.)\cell{ {\trowd\cellx3564\cellx7235\cellx10800\trrh495\row}}} \par\pard\plain\fs16\pard\plain\cf1\f51\fs20\ql \~\par\pard\plain\cf1\f51\fs20\b\qc Cray Business Plaza\par\pard\plain\cf1\f51\fs20\b\qc 100 Commercial Street\par\pard\plain\cf1\f51\fs20\b\qc Box 130\par\pard\plain\cf1\f51\fs20\b\qc Atchison, Kansas 66002\par\pard\plain\cf1\f51\fs20\qc \~(Address of principal executive offices) (Zip Code) \par\pard\plain\fs16 \par\pard\plain\fs16\par\pard\plain\cf1\f51\fs20\b\qc (913) 367-1480\par\pard\plain\cf1\f51\fs20\qc (Registrant\u8217?s telephone number, including area code) \par\pard\plain\fs16 \par\pard\plain\fs16\par\pard\plain\cf1\f51\fs20\b\qc Not Applicable\par\pard\plain\cf1\f51\fs20\qc (Former name or former address, if changed since last report)\par\pard\plain\cf1\f51\fs20\qc \~ \par\pard\plain\fs16\par\pard\plain\cf1\f51\fs20\ql Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the\plain\cf1\f51\fs20\ql registrant under any of the following provisions (see General Instruction A.2. below): \par\pard\plain\fs16\par\pard\plain\cf1\f51\fs20\ql [\~\~]\~ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)\par\pard\plain\cf1\f51\fs20\qj \~\par\pard\plain\cf1\f51\fs20\ql [\~\~]\~ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)\par\pard\plain\cf1\f51\fs20\qj \~\par\pard\plain\cf1\f51\fs20\ql [\~\~]\~ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))\par\pard\plain\cf1\f51\fs20\qj \~\par\pard\plain\cf1\f51\fs20\ql [\~\~] \~Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))\par\pard\plain\cf1\f51\fs20\qj \~{\*\bkmkstart PGBRK}{\*\bkmkend PGBRK}{\*\bkmkstart FTR}{\*\bkmkend FTR}{\*\bkmkstart GLFTR}{\*\bkmkend GLFTR}\par\pard\plain\cf1\f51\fs16\ql \~{\*\bkmkstart PN}{\*\bkmkend PN}\par\pard\plain\cf1\f51\fs16\qc \~\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par \page{\*\bkmkstart HDR}{\*\bkmkend HDR}{\*\bkmkstart GLHDR}{\*\bkmkend GLHDR}\par\pard\plain\cf1\f51\fs16\qr \~{\*\bkmkstart part_1_2_1}{\*\bkmkend part_1_2_1}{\*\bkmkstart item_1_46_1}{\*\bkmkend item_1_46_1}\par\pard\plain\cf1\f51\fs20\b\ql Item 8.01. Other Events.\par\pard\plain\cf1\f51\fs20\qj \~\par\pard\plain\cf1\f51\fs20\ql MGP Ingredients, Inc. (the \u8220?Company\u8221?) sent a letter to the stockholders of the Company on April 11, 2013 as part\plain\cf1\f51\fs20\ql of its 2012 annual report.\~\~The letter is attached hereto as Exhibit 99.1. \par\pard\plain\fs16{\*\bkmkstart part_1_2_2}{\*\bkmkend part_1_2_2}{\*\bkmkstart item_1_47_1}{\*\bkmkend item_1_47_1}\par\pard\plain\cf1\f51\fs20\b\ql Item 9.01 Financial Statements and Exhibits.\par\pard\plain\cf1\f51\fs20\qj \~\par\pard\plain\cf1\f51\fs20\ql The following exhibit is filed with this report as required by Item 601 of Regulation S-K:\par\pard\plain\cf1\f51\fs20\b\qc \~ \par\pard\plain {\trowd\cellx756\cellx1567\cellx10799\trrh248 \pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql (d)\cell\pard\plain\intbl\cf1\f51\fs20\ql Exhibits\cell{ {\trowd\cellx756\cellx1567\cellx10799\trrh248\row}}} {\trowd\cellx756\cellx1567\cellx10799\trrh248 \pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell{ {\trowd\cellx756\cellx1567\cellx10799\trrh248\row}}} {\trowd\cellx756\cellx1567\cellx10799\trrh248 \pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql *99.1\cell\pard\plain\intbl\cf1\f51\fs20\ql Letter to Stockholders mailed April 11, 2013.\cell{ {\trowd\cellx756\cellx1567\cellx10799\trrh248\row}}} {\trowd\cellx756\cellx2915\cellx10800\trrh248 \pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql _________________\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell{ {\trowd\cellx756\cellx2915\cellx10800\trrh248\row}}} {\trowd\cellx756\cellx10800\trrh248 \pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql *\~\~Filed herewith\cell{ {\trowd\cellx756\cellx10800\trrh248\row}}}\pard\plain\cf1\f51\fs20\b\qc \~\par\pard\plain\cf1\f51\fs20\b\ql \~\par\pard\plain\cf1\f51\fs16\ql \~\par\pard\plain\cf1\f51\fs16\qc \~\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par \page\par\pard\plain\cf1\f51\fs16\qr \~{\*\bkmkstart part_1_2_3}{\*\bkmkend part_1_2_3}\par\pard\plain\cf1\f51\fs20\b\qc SIGNATURES \par\pard\plain\fs16\par\pard\plain\fi792\cf1\f51\fs20\ql Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be\plain\cf1\f51\fs20\ql signed on its behalf by the undersigned hereunto duly authorized. \par\pard\plain\fs16\par\pard\plain\cf1\f51\fs20\ql \~ \par\pard\plain {\trowd\cellx3858\cellx8558\cellx10800\trrh248 \pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql \~MGP INGREDIENTS, INC.\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell{ {\trowd\cellx3858\cellx8558\cellx10800\trrh248\row}}} {\trowd\cellx3858\cellx4589\cellx8558\cellx10800\trrh248 \pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell{ {\trowd\cellx3858\cellx4589\cellx8558\cellx10800\trrh248\row}}} {\trowd\cellx3858\cellx4589\cellx8558\cellx10800\trrh248 \pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell{ {\trowd\cellx3858\cellx4589\cellx8558\cellx10800\trrh248\row}}} {\trowd\cellx3858\cellx4589\clbrdrb\brdrs\brdrcf1\cellx8558\cellx10800\trrh248 \pard\plain\intbl\cf1\f51\fs20\ql Date:\~\~April 11, 2013\cell\pard\plain\intbl\cf1\f51\fs20\ql By:\cell\pard\plain\intbl\cf1\f51\fs20\ql /s/ Timothy W. Newkirk\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell{ {\trowd\cellx3858\cellx4589\clbrdrb\brdrs\brdrcf1\cellx8558\cellx10800\trrh248\row}}} {\trowd\cellx3858\cellx4589\cellx10799\trrh248 \pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql Timothy W. Newkirk, President and Chief Executive Officer\cell{ {\trowd\cellx3858\cellx4589\cellx10799\trrh248\row}}} \par\pard\plain\fs16 \par\pard\plain\fs16 \page{\*\bkmkstart doc_1_2}{\*\bkmkend doc_1_2}\pard\plain\cf1\f51\fs20\b\qr Exhibit\plain\cf1\f51\fs20\b\qr 99.1\par\pard\plain\cf1\f51\fs24\b\ql TO OUR STOCKHOLDERS:\par\pard\plain\cf1\f51\fs20\b\ql April 11, 2013 \par\pard\plain {\trowd\trqc\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx5183\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx5507\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx10800\trrh10395 \pard\plain\intbl\cf1\f51\fs20\qj Progress always comes with new challenges. For the year\plain\intbl\cf1\f51\fs20\qj 2012 we experienced our share of both. The purpose of our\plain\intbl\cf1\f51\fs20\qj report is to offer a brief look back, but more importantly, a\plain\intbl\cf1\f51\fs20\qj view of where MGP is headed.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj We were challenged to show progress on the bottom line. Our\plain\intbl\cf1\f51\fs20\qj net income for 2012 was $1.6 million, or $0.09 per common\plain\intbl\cf1\f51\fs20\qj diluted share. This compares to net income of $1.1 million, or\plain\intbl\cf1\f51\fs20\qj $0.06 per common diluted share, in the prior twelve months.\plain\intbl\cf1\f51\fs20\qj The results for 2011 included one-time asset acquisition gains\plain\intbl\cf1\f51\fs20\qj net of tax provisions of more than $21 million related to the\plain\intbl\cf1\f51\fs20\qj purchase of our Indiana distillery. Our net income for 2012\plain\intbl\cf1\f51\fs20\qj included gains from the partial sale of our interest in a joint\plain\intbl\cf1\f51\fs20\qj venture in Illinois, as well as a gain from the sale of the\plain\intbl\cf1\f51\fs20\qj remaining textured protein production assets.\~\~On an operating\plain\intbl\cf1\f51\fs20\qj basis, your Company was in the red in both 2011 and 2012.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj We did achieve significantly higher net sales in fiscal 2012,\plain\intbl\cf1\f51\fs20\qj realizing an increase of approximately 20 percent to $334\plain\intbl\cf1\f51\fs20\qj million. Most of the gains came from increased sales of\plain\intbl\cf1\f51\fs20\qj premium spirits, bourbons and whiskeys from the Indiana\plain\intbl\cf1\f51\fs20\qj distillery. The growth in sales from these high-value products\plain\intbl\cf1\f51\fs20\qj enabled us to make significant progress in our gross profits,\plain\intbl\cf1\f51\fs20\qj with margins approaching 8 percent of sales compared to less\plain\intbl\cf1\f51\fs20\qj than 3 percent in the prior year.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\b\qj What\u8217?s our vision and strategy?\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj MGP is a much different company today than it was only a\plain\intbl\cf1\f51\fs20\qj few short years ago. We may be smaller when you look at\plain\intbl\cf1\f51\fs20\qj our total assets and revenues, but we\u8217?re much more\plain\intbl\cf1\f51\fs20\qj focused in terms of our customers and our products. The\plain\intbl\cf1\f51\fs20\qj biggest difference between yesterday and today, however, is\plain\intbl\cf1\f51\fs20\qj in our future opportunity.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj Our vision for MGP is to be the preferred supplier of\plain\intbl\cf1\f51\fs20\qj premium spirits and specialty food ingredients. We want\plain\intbl\cf1\f51\fs20\qj customers who come exclusively to us for exactly what they\plain\intbl\cf1\f51\fs20\qj need and when they need it. This includes\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\par\pard\plain\intbl\cf1\f51\fs20\qj our best innovative ideas at the formulation stage, as well as\plain\intbl\cf1\f51\fs20\qj delivery of high quality finished products.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj In general terms, our strategy can be described as one of\plain\intbl\cf1\f51\fs20\qj differentiation (high-value) versus mass market (low-cost). We\plain\intbl\cf1\f51\fs20\qj strive for product and service leadership within a narrow\plain\intbl\cf1\f51\fs20\qj segment of customers in the consumer packaged goods\plain\intbl\cf1\f51\fs20\qj industry. In specific terms, our strategy is to concentrate our\plain\intbl\cf1\f51\fs20\qj alcohol and food ingredient resources on premium market\plain\intbl\cf1\f51\fs20\qj segments of custom distillery spirits and nutritional health\plain\intbl\cf1\f51\fs20\qj innovations.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\b\qj What\u8217?s driving our new plan?\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj Until a few short years ago, MGP\u8217?s strategy was to do\plain\intbl\cf1\f51\fs20\qj what we had always done\u8212?to process corn and wheat\plain\intbl\cf1\f51\fs20\qj into alcohol products and food ingredients. As such, our\plain\intbl\cf1\f51\fs20\qj fortunes were greatly affected by the commodity markets.\plain\intbl\cf1\f51\fs20\qj While we enjoyed several prosperous periods, we found that\plain\intbl\cf1\f51\fs20\qj our successes were accompanied by periods of high volatility,\plain\intbl\cf1\f51\fs20\qj and often, significantly lower earnings.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj The Great Recession, in our view, was the great equalizer,\plain\intbl\cf1\f51\fs20\qj causing all businesses to re-evaluate their products, their\plain\intbl\cf1\f51\fs20\qj customers, their costs, their capital structure and their risk\plain\intbl\cf1\f51\fs20\qj profile. We were no different.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj The most recent profit squeeze on our historic alcohol business\plain\intbl\cf1\f51\fs20\qj came from record corn prices. As a key raw material, our costs\plain\intbl\cf1\f51\fs20\qj were rising faster than prices could keep up. Also, during this\plain\intbl\cf1\f51\fs20\qj past year, we experienced lower volumes and margin\plain\intbl\cf1\f51\fs20\qj compression in bulk alcohol sales due to higher input costs and\plain\intbl\cf1\f51\fs20\qj increased market supply.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj However, not all of our alcohol products were producing low\plain\intbl\cf1\f51\fs20\qj profits. In fact, the category of premium distilled bourbons and\plain\intbl\cf1\f51\fs20\qj whiskeys remains a top performer among consumer beverages.\plain\intbl\cf1\f51\fs20\qj These premium products take MGP back to its roots in the\plain\intbl\cf1\f51\fs20\qj 1940s and, more importantly, they will play a critical role in\plain\intbl\cf1\f51\fs20\qj our future.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\cell{ {\trowd\trqc\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx5183\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx5507\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx10800\trrh10395\row}}}\pard\plain\cf1\f51\fs20\b\ql \~\par\pard\plain\cf1\f51\fs20\b\ql \~\par\pard\plain\cf1\f51\fs20\ql \~\par\pard\plain\cf1\f51\fs20\qc \~\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par \page\par\pard\plain\cf1\f51\fs20\qr \~ \par\pard\plain {\trowd\trqc\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx5183\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx5507\clshdng100\clcfpat7\clcbpat7\cellx10800\trrh9405 \pard\plain\intbl\cf1\f51\fs20\b\qj How will we build shareholder value?\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj It all starts with growing our bottom line, and not only\plain\intbl\cf1\f51\fs20\qj earnings, but generating more cash. The surest path to\plain\intbl\cf1\f51\fs20\qj increase our cash flow is by increasing our sales of premium\plain\intbl\cf1\f51\fs20\qj products. Over the next few years, we see the potential to\plain\intbl\cf1\f51\fs20\qj double the sales of these products. This implies continued\plain\intbl\cf1\f51\fs20\qj growth in our premium spirits, as well as our specialty\plain\intbl\cf1\f51\fs20\qj starches and proteins. MGP\u8217?s premium products\plain\intbl\cf1\f51\fs20\qj produce a much higher gross margin per proof gallon of\plain\intbl\cf1\f51\fs20\qj alcohol or pound of ingredients compared with our more\plain\intbl\cf1\f51\fs20\qj traditional products. This is simply a matter of realizing the\plain\intbl\cf1\f51\fs20\qj added value we provide.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\b\qj What challenges do we face?\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj MGP faces challenges from the outside world, things beyond\plain\intbl\cf1\f51\fs20\qj our control, such as a slow-growth economy, volatility in our\plain\intbl\cf1\f51\fs20\qj key commodities, continued competition in bulk white goods,\plain\intbl\cf1\f51\fs20\qj customer consolidation and possible changes in governmental\plain\intbl\cf1\f51\fs20\qj laws regulating beverages and foods.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj At MGP we\u8217?re all about forward progress, getting\plain\intbl\cf1\f51\fs20\qj from point A to point B. We\u8217?re focused on the things\plain\intbl\cf1\f51\fs20\qj we need to overcome in order to succeed.\~\~It\u8217?s about\plain\intbl\cf1\f51\fs20\qj execution.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj In premium bourbons, whiskeys and custom blends, we must\plain\intbl\cf1\f51\fs20\qj continue to increase the production volume at our Indiana\plain\intbl\cf1\f51\fs20\qj distillery and still deliver the highest quality products. At the\plain\intbl\cf1\f51\fs20\qj same time, it\u8217?s critical that we expand our reach to\plain\intbl\cf1\f51\fs20\qj new customers and distribution partners. New products are\plain\intbl\cf1\f51\fs20\qj the lifeblood of both the major branded providers, as well as\plain\intbl\cf1\f51\fs20\qj the hundreds of smaller craft distillers in the U.S. They are\plain\intbl\cf1\f51\fs20\qj looking to MGP for flavor innovations, and we are\plain\intbl\cf1\f51\fs20\qj responding. Examples include the development of new grain\plain\intbl\cf1\f51\fs20\qj mixtures known as mash bills in the industry. We are also\plain\intbl\cf1\f51\fs20\qj creating new wood treatments for our barrels, as well as new\plain\intbl\cf1\f51\fs20\qj custom-blended whiskeys and bourbons.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell \par\pard\plain\intbl\fs16\pard\plain\intbl\cf1\f51\fs20\qj vodkas. We must also lower the cost-per-gallon at both of our\plain\intbl\cf1\f51\fs20\qj distilleries with more efficient energy usage, equipment\plain\intbl\cf1\f51\fs20\qj upgrades and process improvements. \par\pard\plain\intbl\fs16\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj In specialty food ingredients, the challenge is to secure firm\plain\intbl\cf1\f51\fs20\qj new orders for our most promising protein and starch\plain\intbl\cf1\f51\fs20\qj innovations. At the same time, we have to manage a growing\plain\intbl\cf1\f51\fs20\qj pipeline of new products. This is a complex process involving\plain\intbl\cf1\f51\fs20\qj key customers and a variety of collaboration partners. We will\plain\intbl\cf1\f51\fs20\qj also continue to build MGP\u8217?s presence in nutritional\plain\intbl\cf1\f51\fs20\qj health through co-sponsored scientific studies and industry\plain\intbl\cf1\f51\fs20\qj conferences.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\b\qj What\u8217?s key for the next 12 months?\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj The coming year will keep us focused on sales of premium\plain\intbl\cf1\f51\fs20\qj value-added products. We will also redouble our efforts to\plain\intbl\cf1\f51\fs20\qj improve the profit margins from our bulk beverage and\plain\intbl\cf1\f51\fs20\qj industrial alcohols.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj MGP has gone to great lengths over the past two years to\plain\intbl\cf1\f51\fs20\qj reduce the impact of commodity volatility on our business.\plain\intbl\cf1\f51\fs20\qj This transformation is reflected today in a higher value sales\plain\intbl\cf1\f51\fs20\qj mix, a more effective supply chain and a more productive base\plain\intbl\cf1\f51\fs20\qj of assets. We won\u8217?t be satisfied, however, until we\plain\intbl\cf1\f51\fs20\qj achieve the level of profits and cash flow returns that we\plain\intbl\cf1\f51\fs20\qj believe are within our reach. The proof will be in the results.\plain\intbl\cf1\f51\fs20\qj To that end, we anticipate progress on our bottom line in 2013\plain\intbl\cf1\f51\fs20\qj as our efforts start to take hold.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\qj We wish to thank our employees for their hard work and\plain\intbl\cf1\f51\fs20\qj dedication, our customers for the opportunity to serve them,\plain\intbl\cf1\f51\fs20\qj our communities for providing places where we can live, work\plain\intbl\cf1\f51\fs20\qj and give back, and our stockholders for your continuing\plain\intbl\cf1\f51\fs20\qj support.\par\pard\plain\intbl\cf1\f51\fs20\qj \~\par\pard\plain\intbl\cf1\f51\fs20\ql Sincerely,\cell{ {\trowd\trqc\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx5183\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx5507\clshdng100\clcfpat7\clcbpat7\cellx10800\trrh9405\row}}} \par\pard\plain {\trowd\trqc\clshdng100\clcfpat7\clcbpat7\cellx5183\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx5507\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx8099\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx10800\trrh1485 \pard\plain\intbl\cf1\f51\fs20\qj In bulk-beverage and industrial alcohol, the task before us is\plain\intbl\cf1\f51\fs20\qj two-fold: to improve the value of our sales mix and reduce\plain\intbl\cf1\f51\fs20\qj our production costs. We can receive more value by\plain\intbl\cf1\f51\fs20\qj increasing our base of beverage alcohol customers and by\plain\intbl\cf1\f51\fs20\qj having our grain neutral spirits formulated into specialty\plain\intbl\cf1\f51\fs20\qj beverages, such as flavored\cell\pard\plain\intbl\cf1\f51\fs20\qc \~\cell\intbl\ql{\*\shppict{\pict\pngblip\picw145\pich57\picscalex75\picscaley75\bliptag-7138109812 {\*\blipuid 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{\trowd\trqc\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx5183\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx5507\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx8099\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx10800\trrh495 \pard\plain\intbl\cf1\f51\fs20\qc \~\cell\pard\plain\intbl\cf1\f51\fs20\qc \~\cell\pard\plain\intbl\cf1\f51\fs20\b\ql John R. Speirs\par\pard\plain\intbl\cf1\f51\fs20\ql Chairman of the Board\cell\pard\plain\intbl\cf1\f51\fs20\b\ql Timothy W. Newkirk\par\pard\plain\intbl\cf1\f51\fs20\ql President and CEO\cell{ {\trowd\trqc\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx5183\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx5507\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx8099\clvertalc\clshdng100\clcfpat7\clcbpat7\cellx10800\trrh495\row}}}\pard\plain\cf1\f51\fs20\ql \~}