MGP Ingredients Plans Response to Dissident Shareholder

As previously announced, MGP Ingredients, Inc.

 (the "Company") was to hold an annual meeting of stockholders on May 23, 2013 ("Annual Meeting"). There was a quorum of common stockholders present in person or by proxy at the Annual Meeting. However, the preferred stockholders revoked their proxies and so the Annual Meeting lacked a quorum. The Company's Board of Directors is assessing the impasse resulting from the preferred stockholder's refusal to be present at the Annual Meeting. The Company's executive management is implementing a business strategy of product and service leadership within a narrow segment of customers in the consumer packaged goods industry. This strategy has involved repositioning the Company's assets and product offerings into higher margin products and away from raw material price volatility. Specifically, the Company's alcohol resources are focused on distilled beverages and higher value custom formulations for industrial applications. The Company's food ingredient resources are focused on new product innovations, including taste, texture, function and nutritional health and wellness. Management's strategy was unanimously reaffirmed by the Company's Board of Directors on May 23, 2013, at a board meeting attended by all members of the Board of Directors other than Cloud L. Cray, Jr., and Karen Seaberg. About MGP