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Littlefield Reports Collins Case Decision

AUSTIN, Texas -- (PRESS RELEASE) -- Littlefield Corporation (OTCBB:LTFD) announces that the South Carolina Supreme Court has affirmed the decision of the South Carolina Court of Appeals in the case Collins Entertainment Corp v American Bingo & Gaming Corp.

The South Carolina Supreme Court decided this issue on a vote 3-2 which indicates that the issues were worthy of their consideration. The Opinion, Concurring Opinion and Dissent clearly demonstrate the difficulty in making this decision.

Jeffrey L. Minch, President and Chief Executive Officer of Littlefield Corporation, offered the following comments:

"The South Carolina Supreme Court has decided this issue on a vote of 3-2.

This matter relates to a period of time in the mid 1990s and no member of the current management of the Company was employed by the Company at that time nor was any involved in the circumstances which gave rise to this matter.

The matter was totally avoidable and regrettable and I am confident would never have happened under the current management.

While I have had and continue to have a fiduciary obligation to the shareholders of our Company to pursue the course of action which is most beneficial to their interests, this matter is now approaching a final resolution. Even in its current resolution, this finality will allow the Company to focus on all of the good things happening in our core businesses.

We will work honorably and expeditiously to resolve this matter and I am confident it will not have a meaningful impact on our future business prospects."

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