With the Clippers down by six points, 88-82, and only one minute and 52 seconds left, J.J. Redick made a three-pointer to cut the Clippers' deficit to three, 88-85. On the Clippers' next possession, Chris Paul made a jumper with one minute and 10 seconds to bring his team to within one point, 88-87.
The Clippers then had a chance to take the lead after Zach Randolph missed a jumper, but Mike Conley stole the ball from Paul with 1.9 seconds left. The Clippers immediately fouled him, and Conley went on to make both free throws.
Paul showed the type of offensive aggressiveness his coaches have been calling for all season.
He finished with a game-high 30 points and 10 assists, while the only other Clippers player to score in double figures was Jamal Crawford, who had 15 points. With less than five minutes remaining in the third quarter, Paul was the only Clipper who had scored more than six points.
DeAndre Jordan added 17 rebounds and nine points.
The game featured 12 lead changes and 11 ties, with the Clippers and the Grizzlies each leading by as much as eight points.
Conley led the Grizzlies with 18 points and seven assists.
The loss dropped the Clippers from fifth to sixth place in the Western Conference with a record of 37-20, five games behind the second place Grizzlies (41-14).
The Clippers are now 4-2 without Blake Griffin, who had surgery Feb. 9 to remove a staph infection from his right elbow. Griffin had his stitches removed Monday, and is expected to miss at least another week.
The Clippers leave for a four-game road trip, from Feb. 25 through March 2.