Summary of MGP INGREDIENTS INC

Change in Directors or Principal Officers, Regulation FD Disclosure, Financia

Item 5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 2, 2009, the Board of Directors of MGP Ingredients, Inc. (the "Company") appointed Don Tracy as Vice President of Finance and Chief Financial Officer ("CFO"). The appointment as Chief Financial Officer is effective November 6. Mr. Tracy will succeed interim CFO David Harbert, a partner of Tatum, LLC, an Atlanta-based executive services firm, who had filled the role since April 2009.

Mr. Tracy, age 52,has a business career that spans over 30 years, more than half of which has been spent in senior level financial and executive management positions. For the past nearly three years, he has served as CFO at Emery Oleochemicals, a global chemical manufacturer, and was based at their U.S. headquarters in Cincinnati, Ohio. From 2005 to 2007, Mr. Tracy served as CFO at Briggs Industries, a worldwide manufacturer and distributor of kitchen and bath fixtures, at the company's U.S. headquarters in Charleston, S.C. Before that, he spent four years with the Tenaris Corp., a global producer of steel tubes, where he began as director of financial projects and subsequently was promoted to CFO of Tenaris, North America.

Mr. Tracy's previous experience included serving as senior vice president of the process improvement group of National City Corporation, Cleveland, from 1999 to 2001; senior manager of the strategic services unit at A.T. Kearney, Inc. in 1998; senior manager of performance improvement management consulting for Ernst & Young Consulting, for three years; and various positions with the Procter & Gamble Company from 1983 to 1993. These included assignments as department manager of finance and investments in Procter & Gamble's treasury division, and periods as CFO of Procter & Gamble Peru, controller of Procter & Gamble Commercial Company, and a participant in the company's management development program. From 1979 to 1981, he served as an auditor with Deloitte & Touche.

Mr. Tracy will receive annual base compensation of $200,000. In addition, the Company agreed to pay him a sign up bonus of $15,000 and will reimburse certain relocation expenses.