Littlefield Corporation Announces the Acquisition of Texas Commercial Lessor License

AUSTIN, Texas--(BUSINESS WIRE)--Littlefield Corporation (OTCBB: LTFD.OB) announces that it acquired the stock of a Texas corporation who owns a grandfathered commercial lessor license for its charitable bingo operations in Texas.

The acquisition of a grandfathered commercial lessor license in Texas is made by a series of corporate actions in conformance with the requirements of the Bingo Enabling Act. In the end, a wholly owned corporate subsidiary of Littlefield Corporation will own the grandfathered commercial lessor license.

Jeffrey L Minch, President and CEO of Littlefield Corporation made the following comment:

“The acquisition of this license will support our continued growth objectives in Texas.

We currently own are acquiring a total of nine (9) commercial lessor licenses and expect to continue to put them to use within next eighteen (18) months.

We recently put two of these licenses to work in San Angelo and Corpus Christi and expect to put others to use in McAllen and El Paso, Texas.

As we enter into letters of intent and sign leases for new locations, we will make the appropriate public announcements.”

Investors are always cautioned to be careful in drawing conclusions from a single press release, the Company’s performance in a single quarter or the individual opinions of any member of the Company’s management in making their individual investment decisions.

Littlefield Corporation is a Delaware Corporation headquartered in Austin, Texas whose corporate subsidiaries are involved as licensed commercial lessor and promoter (in South Carolina only) with thirty-eight (38) charitable bingo halls in Texas, South Carolina, Alabama and Florida. The Company has recently opened new bingo halls in San Angelo and Corpus Christi, Texas, acquired six halls in South Carolina and has also announced plans to open two additional halls in El Paso and McAllen, Texas later this year. Over 100 charities conduct bingo in these charitable bingo halls and in 2007 earned $3,700,000 to fund their noble causes. In addition, the Company owns Premiere Tents & Events (party rental company).

In accordance with the safe harbor provisions of the Private Securities Reform Act of 1995: except for historical information contained herein, certain matters set forth in this press release are forward-looking statements that are subject to substantial risks and uncertainties, including government regulation, taxation, competition, market risks, customer attendance, spending, general economic conditions and other risks detailed in the Company’s Securities and Exchange Commission filings and reports.

Littlefield Corporation, Austin
Cecil Whitmore, 512-476-5141
Financial Analyst, Investor Relations
512-476-5680 FX
cwhitmore@littlefield.com