Littlefield Announces No Material Hurricane Ike Operational Impact

AUSTIN, Texas--(BUSINESS WIRE)--Littlefield Corporation (OTCBB: LTFD) announces that its Texas bingo operations have not been materially impacted by Hurricane Ike. The Company has received a number of questions as to the impact of Hurricane Ike on its Texas bingo operations.

No physical damage was sustained at any of the Company’s Texas bingo halls with Corpus Christi and those in the Rio Grande Valley (McAllen and San Juan) being the most exposed targets of the storm.

As Hurricane Ike approached the Gulf Coast, Corpus Christi was evacuated and the Company’s Crossroads Bingo Hall was closed. The bingo hall did not sustain any damage and was re-opened as soon as the bingo hall’s employees and customers returned to Corpus.

The Rio Grande Valley bingo halls (El Bingo Grande, Triple City Bingo and Americana Bingo) were impacted by the same precautionary actions as Corpus Christi though to a lesser extent.

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

“Our thoughts are first with our fellow Texans who have suffered from the ravages of Hurricane Ike and who are still suffering. We are glad that you are safe and we wish you well in rebuilding your lives and homes.

We have received a number of inquiries as to what damage, if any, has been sustained by our Texas bingo halls. The short answer is that no physical damage was sustained and the bingo halls missed a small number of bingo sessions. We were very lucky.

We also did notice the impact of hurricane induced gasoline price increases primarily in Charleston, South Carolina where gas prices peaked over $5.00 per gallon as a result of the loss of refining capacity in the Gulf caused by the storm. We expect this to be a short lived impact.”

The Company is continuing its plans for additional bingo halls in El Paso and McAllen.

Littlefield Corporation is a Delaware Corporation headquartered in Austin, Texas whose corporate subsidiaries are involved as licensed commercial lessors and promoters (in South Carolina only) with forty-one (41) 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.