CORRECTION -- MGP Ingredients Announces FY 2009 First Quarter Results

In a release issued earlier today by MGP Ingredients, Inc. (Nasdaq:MGPI), under the same headline, note that in the Consolidated Statements of Income financial table under the Quarter Ended for Sept. 30, 2007, Net Sales was mistakenly stated as 89,977 and should have been 87,977 and under the Year-to-Date Ended for Sept. 30, 2007, Net Sales was mistakenly stated as 89,977 and should have been 87,977. The corrected Financial Table follows:

 MGP INGREDIENTS, INC.

 CONSOLIDATED STATEMENTS OF INCOME
 ---------------------------------------------------------------------
 (unaudited)                  Quarter Ended       Year-to-Date Ended
 ---------------------------------------------------------------------
 (Dollars in thousands,  Sept. 30,   Sept. 30,   Sept. 30,   Sept. 30,
  except per share)        2008        2007        2008        2007
                                       (as                     (as
                                    restated)*              restated)*
 Net Sales              $   99,020  $   87,977  $   99,020  $   87,977
 Cost of Sales             115,707      82,117     115,707      82,117
                        ----------------------  ----------------------
  Gross Profit          $  (16,687) $    5,860  $  (16,687) $    5,860
 Selling, General and
  Administrative
  Expenses                   6,115       6,279       6,115       6,279
                        ----------------------  ----------------------
  Loss from Operations  $  (22,802) $     (419) $  (22,802) $     (419)
 Other Income
  (Expense), Net                41         190          41         190
 Interest Expense             (728)       (276)       (728)       (276)
 Equity in loss of
  unconsolidated
  subsidiary                   (16)         --         (16)         --
                        ----------------------  ----------------------
  Loss Before
   Income Taxes         $  (23,505) $     (505) $  (23,505) $     (505)
 Benefit for
  Income Taxes              (6,262)       (152)     (6,262)       (152)
                        ----------------------  ----------------------
  Net Loss              $  (17,243) $     (353) $  (17,243) $     (353)
 Other Comprehensive
  Income (Loss),
  net of tax                (1,502)      1,350      (1,502)      1,350
                        ----------------------  ----------------------
 Comprehensive
  Income (Loss)         $  (18,745) $      997  $  (18,745) $      997
                        ======================  ======================
 Basic Earnings (Loss)
  Per Common Share      $   (1.04)  $    (0.02) $    (1.04) $    (0.02)
 Diluted Earnings
  (Loss) Per
  Common Share          $   (1.04)  $    (0.02) $    (1.04) $    (0.02)


 Weighted average
  shares outstanding
  - Basic               16,562,643  16,498,348  16,562,643  16,498,348
 Weighted average
  shares outstanding
  - Diluted             16,732,863  16,920,303  16,732,863  16,920,303

CONTACT:  MGP Ingredients, Inc.
          Steve Pickman
          (913) 367-1480

Released November 10, 2008