[Company Logo Omitted]                                              News Release
1300 Main Street, P.O. Box 1300 *         Contact: Steve Pickman or Nate Cairney
Atchison, Kansas 66002-0130                                      at 913-367-1480
913.367.1480 * 800.255.0302 * Fax 913.367.0192
www.mgpingredients.com * Symbol/Market: MGPI/NASDAQ



FOR IMMEDIATE RELEASE:  MGP INGREDIENTS BOARD
                        AUTHORIZES STOCK BUY BACK


     ATCHISON,   Kan.,   December  9,  2002--The   Board  of  Directors  of  MGP
Ingredients,  Inc.  (MGPI/Nasdaq) has authorized  management to buy back up to 1
million  shares  of the  company's  common  stock  in open  market  and  private
transactions.  This  authorization  is in addition to previous stock  repurchase
authorizations  totaling 2 million  shares.  To date,  the company has purchased
1,830,818 shares under the earlier authorizations.

     The stock repurchase program  contemplates that repurchases will be made in
accordance  with Rule 10b-18  promulgated  under the Securities  Exchange Act of
1934.  There is no assurance as to the actual  number of shares that the company
will  repurchase,  and the company may suspend or cancel the program at any time
or from  time to time.  Purchases  will  depend  on  market  conditions.  Shares
purchased will be used to fund the company's stock incentive plans and for other
corporate purposes.

     MGP  Ingredients,  Inc. is a leading  producer and marketer of  value-added
proteins and starches  derived  primarily from wheat.  In addition,  the company
produces  natural food grade  alcohol for use in beverage,  food and  industrial
applications,  and fuel grade alcohol, commonly known as ethanol. The company is
headquartered in Atchison,  Kan., and owns and operates production facilities at
that location, in Pekin, Ill., and Kansas City, Kan.


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