AMCON Distributing Company Reports Fully Diluted Earnings of 41 Cents for the Third Quarter Ended June 30, 2006

Business Wire, Nov 27, 2006

CHICAGO -- AMCON Distributing Company ("AMCON") (AMEX:DIT), an Omaha, Nebraska based consumer products company, is pleased to report fully diluted earnings available to common stock holders of 41 cents per share on net income of $241,865 for the period end June 30, 2006.

"We are delighted at the continued progress the corporation has made since we announced our internal reorganization in March 2006" said Christopher Atayan, AMCON's Chief Executive Officer. "Our core businesses continued their trend of strong performance during the quarter and we began to reap some of the benefits of the aggressive efforts we have instituted to control our non-core water businesses. Our corporate strategic objective in the short to medium term is to reduce the levels of debt we employ at AMCON, which will enhance our ability to grow in the long term. The two primary elements supporting this objective are to preserve and enhance the operating earnings we generate from our core business units and the disposition of assets no longer central to our mission. We believe that by taking this approach and continuing our tradition of superior customer service we are well positioned to enhance shareholder value. We are diligently working as a Company on resolving the issues presented by our Beverage businesses and as a result have expended very little cash resources into those businesses. This has resulted in increasing liquidity and financial strength for the entire company" added Atayan.

For the first nine months of fiscal 2006, AMCON's wholesale consumer products distribution business reported segment operating income before depreciation and amortization of approximately $6.6 million and the retail health food business reported segment operating income before depreciation and amortization of approximately $2.4 million. This compares to $5.6 million and $1.2 million for the wholesale and retail businesses, respectively, in the comparable periods one year ago.

"AMCON's legacy of premium customer service has served us well as we remain highly competitive in the market place" noted Kathleen Evans, President of AMCON's wholesale distribution business, " Our solid performance year to date is a direct reflection of the programs and systems we are developing to enhance our customers profits."

"Our retail health food stores are continuing to perform at historically high levels of revenues and profitability. Consumers are continuing to move in the direction of natural products and we are well positioned to serve them" commented Eric Hinkefent, President of AMCON's retail health food business, "We continue to differentiate our self in the market place by our high levels of customer service. This has a direct bottom line effect as we benefit from repeat customer business."

Another positive factor in the quarter was the narrowing of losses from Hawaiian Natural Water Company in our beverage segment. Price increases and active financial management of the enterprise contributed to this result. Senior management has invested a significant amount of time and energy toward revitalizing this enterprise. As previously announced, AMCON is actively in negotiations to divest the business.

AMCON received an extension of its Revolving Credit agreement through July 2007 and is in active discussions with the bank group with respect to a long term extension. "Our bank group has been very responsive to our needs. Their solid support has enabled us to take advantage of several short term profit opportunities developed by our management team," commented Andy Plummer, AMCON's Acting Chief Financial Officer. Plummer also added, "During the recently completed fourth quarter we have incurred substantial professional fees in connection with our prior period audit and the Trinity Springs, Inc. litigation settlement discussions which will impact bottom line profitability when we report those results."

Concurrently with this press release AMCON has filed its third quarter 10-Q with the Securities and Exchange Commission. This now brings AMCON into compliance with the financial reporting compliance requirements of the American Stock Exchange.

AMCON is a leading wholesale distributor of consumer products, including beverages, candy, tobacco, groceries, food service, frozen and chilled foods, and health and beauty care products with distribution centers in Illinois, Missouri, Nebraska, North Dakota and South Dakota. Chamberlin's Natural Foods, Inc. and Health Food Associates, Inc., both wholly-owned subsidiaries of The Healthy Edge, Inc., operate health and natural product retail stores in central Florida (6), Kansas, Missouri, Nebraska and Oklahoma (4). The retail stores operate under the names Chamberlin's Market & Cafe and Akins Natural Foods Market. Hawaiian Natural Water Company, Inc. produces and sells natural spring water under the Hawaiian Springs label in Hawaii and other foreign markets and purified bottled water on the Island of Oahu in Hawaii. The natural spring water is bottled at the source on the Big Island of Hawaii.