FORM 8-K

                     SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549


Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Date of Report (Date of earliest event reported) April 19, 1999.


                           HIGH PLAINS CORPORATION

            (Exact name of registrant as specified in its charter)

Kansas                                                               #1-8680
(State or other jurisdiction                        (Commission File Number)
of incorporation)


200 W. Douglas                                                   #48-0901658
Suite #820                                                     (IRS Employer
Wichita, Kansas 67202                                    Identification No.)
(Address of principal
executive offices)

                               (316) 269-4310
                       (Registrant's telephone number)








FOR IMMEDIATE RELEASE

CONTACT:  Gary R. Smith
    President and CEO
    High Plains Corporation
    (316) 269-4310

HIGH PLAINS ANNOUNCES PROFITABLE THIRD QUARTER

Wichita, Kansas - April 19, 1999 - High Plains Corporation (NASDAQ: HIPC) 
today reported its third consecutive quarter of profitability, recording a 
Third Quarter profit of $1,295,268, or $.08 per diluted share versus a net 
loss of $(299,425) or $(.02) per diluted share for the comparable period last
year.  The Company's diluted-per-share and basic-per-share earnings are the 
same both for the quarter and for the nine month year-to-date periods ending 
March 31, 1999 and 1998.

A comparison of the Company's financial results for the first three quarters 
of fiscal year 1999, and fiscal year 1998 is shown in the following table:




                     Three Months Ended          Nine Months Ended
                  March 31       March 31      March 31
                   1999           1998          1999          1998
                                               
Net sales and
   revenues      $23,920,820   $19,123,056   $73,086,754   $63,354,876
Net Income       $ 1,295,268   $  (299,425)  $ 1,948,171   $ 1,476,864
Diluted earnings 
   per share     $       .08   $      (.02)  $       .12   $       .09
Diluted shares
   outstanding    16,014,717    16,009,802    16,012,508    16,018,715





President and Chief Executive Officer, Gary R. Smith, stated that the
operational profits in our Third Quarter results "are the direct result of 
our ongoing efforts to improve production efficiencies at our three plants."
"The efficiency improvements and low grain prices help to offset the adverse
effect of continuing historically-low oil and gasoline prices," Smith 
continued.  In addition to the profits from operations, the net income 
reported above included approximately $587,800 in non-recurring after tax 
profits from the sale of equipment. 






Smith noted that recent increases in gasoline prices and projections that 
gasoline prices will continue to rise is favorable news for High Plains and 
the rest of the ethanol industry. Also, California's decision to ban MTBE as 
a fuel additive may provide a new, large market for fuel-grade ethanol. 
"While there are still significant hurdles to clear before the replacement of
MTBE with ethanol becomes a California reality, recent developments suggest 
progress is being made in this regard," Mr. Smith concluded.
 
Mr. Smith points to the pre-tax Third Quarter earnings of $2.06 million as 
another sign of High Plains' success in growing its markets. The Company 
recently announced strategic changes in the marketing of its dried 
distiller's grain (DDG) and industrial beverage products, and has recently 
completed an agreement to capture and market its carbon dioxide byproduct 
from its Colwich, KS plant. These developments, along with the existing 
carbon dioxide recovery and marketing efforts at the Company's York, Nebraska
plant provide significant revenue streams for High Plains.

The Company recorded net cash provided by operating activities of $1.28 
million for the Third Quarter.  Depreciation and capital expenditures were 
$0.97 million and $0.59 million, respectively, for the quarter.  Total debt 
outstanding, including capital lease obligations, at the end of the Third 
Quarter was $19.53 million with long term debt, including capital lease 
obligations, consisting of $10.16 million of the $19.53 million.  Interest 
expense was $0.4 million for the quarter ended March 31, 1999.

A conference call will be held by High Plains on Tuesday, April 20, 1999, at 
10:00 AM Central Daylight Time to discuss these issues and other matters 
relevant to the performance of the Company. Individuals interested in 
participating in the call should dial 800-905-0392 approximately fifteen 
minutes prior to the starting time, and ask for Conference Call ID#D748.

Based in Wichita, Kansas, High Plains Corporation is among the Nation's 
largest producers of ethanol. The company operates production facilities in 
Colwich, Kansas; York, Nebraska; and Portales, New Mexico. 



This press release contains forward-looking statements that are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Investors are cautioned that all forward-looking statements involve
risks and uncertainties, including without limitation, risks of fluctuations 
in feedstock commodity prices, changes in market prices or demand for motor 
fuels and Ethanol, legislative changes regarding air quality, fuel 
specifications or incentive programs, as well as general market conditions, 
competition and pricing. The Company believes that forward-looking statements
made by it are based upon reasonable expectations. However, no assurances can
be given that actual results will not differ materially from those contained 
in such forward-looking statements. Additional information concerning these 
and other factors are contained in the Company's Security and Exchange 
Commission filings, including its annual 10K, Proxy Statement, and quarterly 
10Q filings, copies of which are available from the company without charge.