Littlefield Corporation announces that Michael J. Lindley has accepted the
position of Senior Vice President – Director of Capital Transactions. He
will assume his new duties in mid-August. In this position, Mike will be
directly responsible for acquisitions, capital transactions related to
raising debt and equity for acquisitions and institutional investor
relations. Cecil Whitmore, Financial Analyst, will continue to oversee
investor relations for the Company’s “retail” shareholders. These duties
will entail identifying current bingo hall owners in targeted states,
establishing contact and communicating the Company’s acquisition strategy.
Mike will oversee the acquisition process including coordinating due
diligence efforts. He will also be responsible for communicating the
Company’s acquisition strategy to likely sources of project and balance
sheet financing in support of acquisitions. In addition, he will be
responsible for communicating the Company’s story to current and prospective
institutional shareholders in particular micro/small cap mutual funds and
hedge funds.
Lindley is well-qualified for this new position having worked on Wall Street
for Merrill Lynch in investment banking and having worked for a number of
years in a similar position (with Jeff Minch who was the President and CEO
of that company) in the commercial real estate business. Most recently Mike
has been in a similar position with a public company in the advertising
specialty industry.

Mike was the President and Chairman of a private company employing a novel
technology driven strategy in the advertising specialty business. Most
recently, he has been involved in merchant and investment banking with
Austin-based Focus Strategies.

Lindley, 41, brings a wealth of acquisitions, capital transactions,
investment banking and operational experience to his new position. He and
Jeff Minch worked together for a number of years in the real estate
business.

Lindley is a graduate of the University of Texas and holds a bachelors
degree in Finance.

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

“Mike Lindley is a smart, hardworking professional who will invigorate our
acquisition program. His experience and the Company’s current portfolio of
acquisition opportunities will result in a more rapid identification,
negotiation and closing of suitable acquisitions.

We enjoyed an excellent and profitable working relationship in the past and
I am confident that he will be a great addition to our team providing
energy, expertise and enthusiasm at a critical time in the Company’s
history.

His investment banking background and knowledge of the investment business
will be a valuable addition to our team.

His experience as a President and CEO will provide additional management
depth to the Company.”