Littlefield Corporation (OTCBB: LTFD) announces that it has completed the acquisition of a bingo hall in South Carolina acting through appropriately formed and licensed wholly owned corporate subsidiaries. This acquisition was the subject of the Company's November 9, 2010 press release which announced the execution of an asset purchase agreement.

This acquisition should have a positive impact on earnings once initial transaction and transitional costs have been settled.

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

?This investment strengthens our market presence in the region. We expect the hall's financial performance to be accretive once initial transitional and transaction costs have been made.

We will continue to look at similar opportunities and are evaluating several of similar quality.

I would like to thank the acquisition team for their continued dedicated efforts.?

ABOUT LITTLEFIELD CORPORATION

Littlefield Corporation, headquartered in Austin, Texas, is the largest public owner of charitable bingo halls in the United States. The Company, through its corporate subsidiaries, develops, owns and operates 38 halls in Texas, South Carolina, Alabama and Florida. In Texas its corporate subsidiaries are involved as a licensed commercial lessor and only in South Carolina as a licensed promoter. Over 100 charities conduct bingo in these charitable bingo halls.

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.

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
Cecil Whitmore, 512-476-5141
Financial Analyst, Investor Relations
cwhitmore@littlefield.com
or
Institutional Marketing Services
John Nesbett, 203-972-9200
jnesbett@institutionalms.com
or
Jennifer Belodeau, 203-972-9200