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AUSTIN-Littlefield Corp., an Austin-based operator of bingo halls and other entertainment-related businesses, reported that it made $141,358 on the sale of REIT-related preferred securities.

Littlefield bought the securities for about $610,000 in late 2000 when, it says, it spotted an anomaly in the market related to the pricing of the securities. The dividend rate of return was more than 11.5% for $70,533 and, with the sale of the securities, realized a $141,358 gain. The company said the total rate of return was 34% and will be recorded in the 2001 third quarter.

Littlefield disclosed the gain two days after releasing information on its July performance. It reported earning $55,914 in July, a turnaround from a loss of $369,992 in July 2000. It said the company has usually lost money in the July and August portions of the third quarter because of the seasonality of the bingo business. The company operates charitable bingo halls in the United States and has real estate and hospitality operations.

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