For Further Information:

Scheid Vineyards Inc.

305 Hilltown Road

Salinas, CA 93908

(831) 455-9990

CONTACT: Scott Scheid, President and CEO

Mike Thomsen, Chief Financial Officer

For Immediate Release:

December 4, 2006

SCHEID VINEYARDS INC. REPORTS THIRD QUARTER RESULTS

; Yields up 50%

SALINAS, CA – December 4, 2006 - Scheid Vineyards Inc. announced today its financial results for the third quarter ended September 30, 2006.

Financial Results

Revenues for the three months ended September 30, 2006 totaled $7.1 million, compared to $8.0 million for the same period of 2005. The net loss for the three months ended September 30, 2006 was $95,000 ($0.09 per share), compared to net income of $322,000 ($0.32 per share) in 2005.

Revenues for the nine months ended September 30, 2006 totaled $15.6 million, compared to $9.8 million for the same period of 2005. This increase was driven primarily by sales of bulk wine and revenues generated by the Company’s winery, which began operations in September of 2005. The net loss for the nine months ended September 30, 2006 was $1,027,000 ($1.00 per share), compared to a net loss of $622,000 ($0.61 per share) in 2005. It should be noted that the profit results for the 2005 period reflect a gain of $0.9 million from the sale of vineyard land and certain equipment. There were no similar sales in the first half of 2006.

Mr. Mike Thomsen, Chief Financial Officer, stated, “The revenues generated by the Company’s vineyards are affected by various factors, including the timing of the harvest, the yield per acre, and the price per ton received. In addition, the Company produces bulk wine under contract and for the open market, which affects the timing of revenue recognition. Through September 30, 2006, approximately 35% of the Company’s producing acres had been harvested, as compared to 32% at September 30, 2005. Grape sales through September 30, 2006 were $4.9 million, as compared to $5.0 million through the same period in 2005. Sales of bulk wine totaled $8.3 million, as compared to $3.5 million for the 2005 period.”

Commenting on the 2006 harvest, Mr. Scott Scheid, President and Chief Executive Officer, stated, “The harvest of 2006 was completed the week of November 17^th. While state-wide yields in 2005 set a production record for the industry, yields in 2006 returned to a more normal level. The Company harvested approximately 22,900 tons, as compared to a record level 31,700 tons harvested in 2005. We estimate that, for the fiscal year ending December 31, 2006, the Company will record grape sale revenues of approximately $16 million, a decrease of approximately 27% from fiscal 2005 grape sale revenues of $22 million. We caution that historical cost of sales and other expenses should not be expected to provide an indication of gross profit or net income to be reported by the Company for fiscal 2006.”

Mr. Scheid stated, “The Company’s winery processed approximately 16,000 tons of grapes during the 2006 harvest. This total represents both processing of grapes for winery customers and the Company’s own grape production.”

About Scheid Vineyards Inc.

Scheid Vineyards Inc. (www.scheidvineyards.com) is an independent producer of premium wine grapes and bulk wine. The Company operates approximately 5,700 acres of vineyards, primarily in Monterey County, California. The Company sells most of its grape production under short and long-term grape and bulk wine contracts to wineries producing high quality table wine. The Company also operates a winery with approximately 18,000 tons of processing capability. The Company produces bulk wine, as well as a small amount of ultra premium wine under its own label. The Class A Common Stock of Scheid Vineyards is traded on the Pink Sheets Electric Quotation Service under the stock symbol SVIN. The “Pink Sheets” is a centralized quotation service that collects and publishes market maker quotes in real time, primarily through its website, www.pinksheets.com.

Forward Looking Statements

This release contains forward-looking statements as well as historical information. Statements of goals and strategies and words such as “plan”, “believe”, “anticipate”, “expect”, “objectives”, “forecast”, and “predict” and other similar words are intended to identify forward-looking statements. These forward looking statements are included in accordance with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, and involve risks, uncertainties and other factors that may cause the Company’s actual results, performance, or financial condition to be materially different from any results, performance, or financial condition suggested by the statements in this release.