West Brom went top of the Coca-Cola Championship, but missed the chance to go two points clear of former leaders Derby as resurgent Leicester narrowly failed to secure a deserved victory.
Foxes defender Gareth McAuley headed home 10 minutes before the break to cancel out a penalty won and converted by Diomansy Kamara.
That was the end of the scoring but not the action as Leicester, rejuvenated by Milan Mandaric's recent takeover, came within a whisker of recording a fourth successive victory.
They battered Albion without reward in the second-half and were only denied victory by some poor finishing and dubious officiating from Uriah Rennie.
Mandaric had already seen Rob Kelly's men beat Coventry and Burnley during the past week since he assumed control of the club.
The Serbian-American millionaire happily chatted with supporters in the stands prior to kick-off and the feel-good factor which he has engendered at the club has clearly transmitted to the pitch.
It was no surprise, then, to see Leicester make a strong and purposeful start.
Indeed, they should have led after four minutes when Iain Hume whipped over a corner from the left and Jason Jarrett volleyed over the crossbar from six yards when completely unmarked.
Foxes frontman Geoff Horsfield, on loan from Sheffield United, was no stranger to the Albion defenders having spent three seasons at The Hawthorns.
Horsfield proved a constant menace to his old team-mates and his astute lay-off gave Levi Porter a shooting chance which drew a fine save from Dean Kiely.
But, after a purposeful start from the hosts, West Brom enjoyed a spell of sustained pressure which saw Kevin Phillips expertly denied by Leicester goalkeeper Paul Henderson and culminated in them opening the scoring in the 26th minute.
Kamara's pace took him clear of Alan Maybury and the Foxes defender's late lunge led to Rennie pointing straight to the spot.
Kamara swept home a coolly-taken penalty that went under Henderson and saw the Senegal international claim his 21st goal of the season.
And it could have been 2-0 moments later as Henderson again excelled himself to tip over Phillips' cheeky chip.
But, 10 minutes before the break, Leicester drew level as McAuley rose above Curtis Davies to meet Patrick Kisnorbo's free-kick and plant a looping header over Kiely and into the far corner.
Horsfield clearly elbowed Albion right-back Paul McShane in the face shortly before half-time but referee Rennie somehow saw no wrongdoing to leave Baggies boss Tony Mowbray fuming.
Nine minutes after the restart, Leicester went close as Hume engineered the space to cross from the left but Stephen Hughes could not direct his header on target.
Maybury attempted to atone his earlier mistake on the hour when he embarked on a delightful jinking run from right-back which took him to the edge of the visitors' 18-yard box.
He cut inside and thumped a vicious left-foot shot goalwards which Kiely could only parry.
Maybury tried to connect with the rebound and was clearly impeded by Paul Robinson, yet Rennie again saw no need to reach for his whistle.
Albion rallied in the closing stages but neither side could find a winner.
Teams:
Leicester Henderson, Maybury, McAuley, Kisnorbo, Johansson,Hughes (Yeates 75), Jarrett, Johnson, Porter, Hume, Horsfield.
Subs Not Used: Logan, Hammond, Stearman, Kenton.
Goals: McAuley 35.
West Brom Kiely, McShane, Curtis Davies, Clement, Robinson,Koren, Chaplow, Greening, Koumas (Gera 64), Kamara,Phillips (Ellington 64).
Subs Not Used: Daniels, Albrechtsen, Carter.
Booked: Robinson.
Goals: Kamara 27 pen.
Att: 25,581
Ref: U Rennie (S Yorkshire).