For Immediate Release:

March 3, 2000

SCHEID VINEYARDS INC. REPORTS YEAR END RESULTS EXPECTS MODERATE INCREASE IN PRICES FOR 2000

MARINA DEL REY, CA - March 3, 2000 - Scheid Vineyards Inc. (Nasdaq: SVIN) today reported its results for the year ended December 31, 1999. As expected and previously announced, the harvest of 1999 was substantially below historical average levels. As a result, Company revenues decreased 27% to $12.8 million from $17.5 million in 1998. Net income decreased to $636,000, or $0.11 per share, for 1999 compared to net income of $3.6 million, or $0.55 per share, for 1998. Weighted average shares outstanding were 6.0 million in 1999 and 6.6 million in 1998.

Alfred G. Scheid, President and Chief Executive Officer, said, "The general consensus of the industry is that 1999 was a year of significantly below normal yields and outstanding grape quality. Overall, tons harvested for the Company's own account decreased by about 30%, with approximately 7,700 tons harvested in 1999 compared to 10,900 tons in 1998. Chardonnay was the variety most impacted by the cool weather patterns of 1999, experiencing an average decrease in yield of about 48% from 1998 and about a 60% decrease from what we would consider an average year. Since about 37% of the Company's producing acreage in 1999 was planted to Chardonnay, the decrease in Chardonnay yields had a dramatic impact on our operating results."

The Company also announced that the Preliminary Grape Crush Report covering the 1999 harvest shows that the wine grape prices it will receive in 2000 will increase by up to 13% for varieties it produces. The California Department of Food and Agriculture publishes the Preliminary Grape Crush Report on February 10 and the Final Grape Crush Report on March 10 each year. This report shows prices paid during the previous year's harvest for grapes purchased for wine, concentrate, juice, vinegar and beverage brandy by California processors.

Heidi M. Scheid, Chief Financial Officer, stated, "Approximately 95% of the vineyard acres we will harvest in 2000 will be sold under contracts which have pricing formulas based on the prices reported for 1999. The Preliminary Grape Crush Report shows that most of the prices we will receive in the 2000 harvest will be moderately increased from 1999 and that there will be no price declines." Although historically there have not been significant differences in the pricing data reported in the Preliminary and the Final Grape Crush Reports, it is possible that there may be some adjustments to the Company's expected 2000 grape prices when the Final Report is published on March 10.

Scheid Vineyards Inc. is a leading independent producer of premium wine grapes and operates approximately 6,000 acres of vineyards, primarily in Monterey County, California. The Company sells most of its grape production under long-term contracts to wineries producing primarily premium quality table wines, and the Company also produces a small amount of ultra premium wine under its own labels.

SCHEID VINEYARDS INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF OPERATIONS (amounts in thousands, except per share data)

December Ê31, (Unaudited)

December 31,

1999

1998

1999

1998

REVENUES:

Sales

$10,800

$ 14,682

$ 11,804

$ 16,436

Vineyard management, services and other fees

408

341

1,040

1,037

Total revenues

11,2081

15,023

12,844

17,473

COST OF SALES

7,557

7,099

8,219

7,911

GROSS PROFIT

3,651

7,924

4,625

9,562

General and administrative expenses

730

1,236

3,572

4,274

Interest income, net

(51)

(43)

(33)

(46)

INCOME BEFORE PROVISION FOR INCOME
TAXES

2,972

6,731

1.086

6,040

PROVISION FOR INCOME TAXES

1,204

2,697

450

2,421

NET INCOME

$ 1,768

$ 4,034

$ 636

$ 3,619

BASIC AND DILUTED EARNINGS PER SHARE

$ 0.31

$ 0.62

$ 0.11)

$ 0.55

WEIGHTED AVERAGE SHARES OUTSTANDING

5,723

6,474

5,996

6,611