Littlefield, Adams &Company Announces Financing Developments.

Business Editors

HUBER HEIGHTS, Ohio--(BUSINESS WIRE)--Feb. 7, 2000

Littlefield, Adams &Company (&uot;Littlefield&uot;) (OTCBB:FUNW) announces that its independent auditors, Arthur Andersen LLP, tendered its resignation in that capacity on January 25, 2000, for the fiscal ended December 31, 1999. As stated in the Company's filing of Form 8-K on the matter: &uot;The Company's Board of Directors has authorized the Audit Committee of the Board of Directors to recommend the engagement of a new independent auditor. There were no disagreements on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, between the Company and its independent auditors during the Company's two most recent fiscal years or subsequent thereto.&uot;

Littlefield, Adams &Company, headquartered in Huber Heights, Ohio, designs, prints, and sells T-shirts, sweatshirts, and other casual apparel which are screen printed with licensed or proprietary artwork. Littlefield markets its products primarily to retailers throughout the United States. The Company's principal licenses include World Championship Wrestling, &uot;WCW&uot; and &uot;nWo&uot;, (a Time Warner Company); &uot;Dilbert&uot; (United Feature Syndicate, Inc.); &uot;Garfield&uot; (Paws, Incorporated); &uot;The Simpsons&uot; and &uot;King of the Hill&uot; (Twentieth Century Fox); &uot;Hagar the Horrible&uot; &uot;Zits&uot; (Hearst Entertainment); &uot;Wit Bit&uot; (Daniel Williams, LTD.); and &uot;Lola&uot; (Tribune Media Services, Inc.). &uot;Stix-n-Stones&uot; is Littlefield's branded proprietary product. For additional information about Littlefield, Adams &Company, visit our web site at www.funwear.com.

Forward-looking statement caveat: The foregoing discussion includes projections and forward-looking statements that are based on management's beliefs as well as assumptions made by and information currently available to management. When used in this report, the words &uot;anticipate,&uot; &uot;estimate,&uot; &uot;expect,&uot; &uot;predict,&uot; &uot;project,&uot; &uot;believe,&uot; and similar expressions are intended to identify forward-looking statements. The forward-looking statements were prepared on the basis of assumptions which relate, among other things, to the market acceptance of the Company's products, including the Company's licensed and proprietary products; the cost of producing and marketing the Company's products; the prices at which the Company's products may be sold; and the Company's market share for its products. Such assumptions may prove not to be accurate or appropriate, and even if such assumptions do prove to be accurate and appropriate, the actual results of the Company's operations in the future may vary widely due to increased competition in the industry, an increase in interest rates, general economic conditions and other risks and uncertainties. Not all &uot;bookings&uot; constitute contractual commitments, and may therefore be subject to cancellation or modification by customers. Accordingly, the actual results of the Company's operations in the future may vary widely from the forward-looking statements included herein.