Liverpool maintained their place at the top of the Premiership but their shaky home form must be giving manager Roy Evans cause for concern.
Stan Collymore made sure they secured at least a point when he cancelled out the opener from Steve Claridge with 15 minutes to go. But Liverpool have now picked up only nine points from a possible 18 at Anfield and that is hardly championship form.
Czech Republic star Patrik Berger returned to the Liverpool line-up as 19-goal Robbie Fowler was sidelined with an ankle injury.
Newly-promoted Leicester were without influential skipper Steve Walsh, who is recovering from a hernia operation. The sides met two years ago on Boxing Day with Liverpool winning the Filbert Street clash 2-1. But Leicester showed they are well-organised under the stewardship of Martin O'Neill.
The opening 45 minutes provided poor holiday entertainment, although referee Alan Wilkie was busy enough dishing out four yellow cards.
Liverpool have made a habit of scoring quick goals in recent weeks and they almost made the breakthrough after three minutes.
Ian Marshall carelessly lost possession and Collymore raced away to the edge of the area. However, keeper Kasey Keller got down quickly to smother his shot. Collymore has shown glimpses of his best form in the past month and made space to receive a good through ball from Neil Ruddock, only to knock it wide.
In the absence of Fowler, Collymore saw a lot of the ball in the first-half but he was again out of luck when Phil Babb played it forward.
Leicester pushed up only for the Liverpool striker to beat the offside trap, then slice a shot wide of the post.
The visitors were far from over-awed in the early stages and Neil Lennon twice tested keeper David James. Lennon sent a shot into James's body after a mistake by John Barnes. Then he rattled in a fierce 25-yard drive, after he had won the ball off Michael Thomas, which the keeper saved with a degree of difficulty.
Berger scored his first goals for Liverpool against Leicester when he got a brace and he had another chance to show his liking for the opposition a minute after the break. Collymore picked him out on the edge of the area and Berger had a clear route to goal, only to sky his shot high into the Kop.
Liverpool pressed forward in numbers to try to get the opener and central defender Neil Ruddock tested keeper Keller with a thumping 20-yard effort after being released by Michael Thomas.
But it was Leicester who stunned the home fans by taking the lead after 75 minutes. The industrious Lennon saw his shot blocked and it broke to former Birmingham striker Claridge. He coolly slotted the ball beyond James before being mobbed by his jubilant team-mates.
But Leicester's joy lasted only three minutes. Steve McManaman for once shook off the attentions of Colin Hill to deliver the ball into the penalty area. Collymore picked the ball up and played a one-two with central defender Mark Wright to beat Keller from a couple of yards.
Berger should have sewn up the game for Liverpool when he got on to the end of Collymore's cross only to send a header over the bar.
Liverpool manager Roy Evans saw two more home points slip away today but saluted his team's fighting spirit after a 1-1 draw against Leicester. It took a goal from Stan Collymore with 12 minutes remaining to secure a point and maintain their lead at the top of the Premiership. Steve Claridge had given Leicester the lead and Evans said: "The bonus today was that we did not want to get beaten."
Leicester's Colin Hill did a superb man-marking job on England winger Steve McManaman and Liverpool have now picked up only nine points from a possible 18 at Anfield.
Evans said: "It was frustrating but that's what you expect from teams like Leicester, who are battling for points. For an hour we did not play in the way we are capable of but for the last 30 minutes we looked as though we had fresh legs. But we didn't play well and didn't pass it about enough. Sometimes it is more difficult at home because the opposition sit there and deny you space. Perhaps we should make more use of the flanks. But what I do know is that we have a squad that is second to none."
Leicester manager Martin O'Neill was delighted with the way his team had equipped themselves, particularly Northern Ireland international Hill. O'Neill said: "I told Colin at 1.45 what his job would be. If I had told him any earlier he probably would not have turned up. He has the experience and the know-how and he did the job exactly as I asked him. The effort my players put in was phenomonal. We all know what Liverpool are like if you give them room to play but my players stuck to their task. The only trouble was that we didn't hold our lead long enough to enjoy it. Liverpool turned us over earlier in the season and it was nice to get a result of sorts. I must sound downbeat, but I am going out to get diabolically drunk tonight. I hope my players won't as they have a match on Saturday."
Press' Liverpool man of the match awards
The Leicester Mercury : Stan Collymore.
90 Minutes : Mark Wright (8/10).
The Liverpool Echo : Mark Wright.
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