MARINA DEL REY, CA - October 28, 1998 - Scheid Vineyards Inc. (Nasdaq-NMS: SVIN) announced today that it has instituted a new stock repurchase program in which the Company may spend up to $2.5 million in open market transactions to purchase outstanding shares of its Class A Common Stock at such times, in such amounts or blocks and at such prices as deemed appropriate. This repurchase program will expire on September 30, 1999.

In connection with the adoption of the new stock repurchase program, the Company has terminated its prior stock repurchase program adopted in July 1998. This program would have expired on January 30, 1999 and authorized the purchase of up to 200,000 shares of Class A Common Stock. Under the prior repurchase program, the Company repurchased 103,100 shares of Class A Common Stock. The Company also made other repurchases earlier in 1998 of 103,000 shares of Class A Common Stock. The aggregate purchase price for these 206,100 shares was approximately $1,252,000.

Commenting on the new repurchase program, Ms. Heidi M. Scheid, Chief Financial Officer of the Company stated, "Given the current price range of the stock, we believe that continuing and expanding the stock repurchase program is in the best interests of the Company and our stockholders."

Scheid Vineyards Inc. is a leading independent producer of premium wine grapes and operates 5,280 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 wines under its own labels.