On May 19, 2008, the board of directors of the registrant declared a cash distribution of $0.40 per membership unit to the holders of the registrant’s Class A and Class B units of record at the close of business on June 1, 2008, for a total distribution of $9,784,000. The registrant expects to pay the distribution in June 2008.

On February 1, 2008, the board of directors declared a cash distribution of $0.25 per membership unit to the holders of Class A and Class B units of record at the close of business on February 1, 2008, for a total distribution of $6,115,000. The Company will withhold from the distribution the state taxes paid by the Company on its members’ behalf for the 2007 tax year. Golden Grain Energy  expects to pay the distribution at the end of February 2008.