The Hammers had taken a third minute lead when Svetoslav Todorov was brought down in the penalty area and Davor Suker scored his first goal for the reserves from the resulting spot-kick.
Although there was a partial floodlight failure in the Centenary Stand - the result of an electrical fault caused by the continuing construction work on the new Dr. Martens Stand throughout the evening - the game continued and Trevor Benjamin equalised for the Foxes just before the break.
Scott Minto and Steve Laurie - making his comeback after a long injury lay-off - were booked either side of half-time.
Jimmy Bullard was denied late on with a fine save from Karl Noble, who replaced Tim Flowers in the Leicester goal at half-time.
Team: Bywater, Byrne, Minto (Ward 71), Etherington, Laurie, Potts, Bullard, Ferrante, Todorov (Morris 85), Suker, Diawara. Subs not used: Jackson (GK), Tobolewski.