Exhibit 99


Release Date:                                             Further Information:

IMMEDIATE RELEASE                                         David J. Bursic
April 16, 2008                                            President and CEO
                                                                  or
                                                          Pamela M. Tracy
                                                          Investor Relations
                                                          Phone: 412/364-1913


         WVS FINANCIAL CORP. ANNOUNCES INCREASED THIRD QUARTER AND NINE
          MONTHS ENDED MARCH 31, 2008 NET INCOME AND EARNINGS PER SHARE

      Pittsburgh,  PA -- WVS Financial Corp. (NASDAQ: WVFC), the holding company
for West View Savings Bank, today reported net income of $3,034,000 or $1.34 per
diluted  share,  for the nine  months  ended  March 31,  2008 as compared to net
income of $2,697,000 or $1.16 per diluted share for the same period in 2007. The
$337,000  or 12%  increase in net income  during the nine  months was  primarily
attributable to a $552,000 increase in net interest income and an $89,000 change
in  provisions  for loan  losses,  which  were  partially  offset by a  $159,000
increase in income tax expense, a $120,000 increase in non-interest expense, and
a $25,000 decrease in non-interest  income.  The increase in net interest income
primarily  resulted from higher average balances of earning assets  (principally
floating  rate U.S.  Government  Agency  mortgage-backed  securities)  and lower
short-term  borrowing  costs.  The change in the  provision  for loan losses was
primarily  attributable  to  a  $55,000  recovery  on a  previously  charged-off
commercial  real estate loan.  The increase in income tax expense was  primarily
due to higher  levels of taxable  income,  while the  increase  in  non-interest
expense was  primarily  attributable  to increases in  charitable  contributions
eligible for PA tax credits.  The decrease in non-interest  income was primarily
due to lower levels of service charges on customer accounts.

      Net income and diluted  earnings per share for the quarter ended March 31,
2008 totaled  $962,000 and $0.43,  respectively,  compared to $955,000 and $0.41
for the same  period  in 2007.  The  $7,000 or 1%  increase  in net  income  was
primarily  attributable to $91,000 change in the provision for loan losses and a
$40,000  decrease in income tax expense which were partially offset by a $94,000
decrease in net interest income, a $16,000 increase in non-interest expense, and
a $14,000 decrease in non-interest  income. The change in the provision for loan
loss  was  primarily  due to a  $55,000  recovery  on a  previously  charged-off
commercial  real estate loan.  The decrease in income tax expense was  primarily
due to lower  levels  of  taxable  income.  The  decrease  in net  interest  was
primarily  attributable to lower yields on the Company's  earning assets,  which
were  partially  offset by lower rates paid on short-term  borrowings and higher
average  balances of earning  assets.  During the three  months  ended March 31,
2008, the Federal  Reserve Open Market  Committee  reduced its targeted rate for
federal funds from

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4.25% to 2.25% in  response  to turmoil in the  global  equity and fixed  income
markets.  Throughout  the quarter ended March 31, 2008 the Company  maintained a
defensive  posture by increasing its purchases of floating rate U.S.  Government
Agency  mortgage-backed  securities and short-term  investment  grade commercial
paper to offset early issuer  redemptions of fixed rate U.S.  Government  agency
bonds.  The increase in  non-interest  expense was primarily due to increases in
employee  related costs while the decrease in non-interest  income was primarily
attributable to decreases in loan  correspondent fees earned and lower levels of
services charges on customer accounts.

      President and Chief Executive Officer David J. Bursic remarked:  "Calendar
year 2008 will present a number of challenges to the financial services industry
including  record loan  charge-offs,  volatile  interest rates and sharply lower
economic  growth.  WVS  Financial  Corp.  will  continue to  emphasize a prudent
lending strategy,  limited increases in controllable operating costs, and growth
in  Company  total  capital  and  book  value  per  share.   Return  on  average
stockholders' equity totaled 12.98% at March 31, 2008."

      WVS Financial Corp. owns 100% of the outstanding common stock of West View
Savings Bank. The Savings Bank is a  Pennsylvania-chartered,  FDIC savings bank,
which conducts  business from six offices  located in the North Hills suburbs of
Pittsburgh, Pennsylvania.

                               --TABLES ATTACHED--
                                      # # #



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                       WVS FINANCIAL CORP. AND SUBSIDIARY
                      SELECTED CONSOLIDATED FINANCIAL DATA
                  (Dollars in thousands except per share data)


                                                    March 31,     June 30,
                                                      2008          2007
                                                   (Unaudited)   (Unaudited)
                                                   -----------   -----------
Total assets                                        $ 438,817    $ 408,076
Investment securities held-to-maturity                119,806      202,664
Investment securities available-for-sale               25,421        8,933
Mortgage-backed securities held-to-
   maturity                                           208,926      119,271
Mortgage-backed securities available-for-
   sale                                                 2,239        2,246
Net loans receivable                                   57,485       60,350
Deposits                                              151,576      159,377
FHLB advances: long-term                              135,579      130,579
FHLB advances: short-term                             114,325            0
Other short-term borrowings                                 0       82,950
Equity                                                 31,895       31,293
Book value per share                                    14.28        13.49
Return on average assets                                0.95%        0.90%
Return on average equity                               12.98%       12.14%




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<CAPTION>


                             WVS FINANCIAL CORP. AND SUBSIDIARY
                            SELECTED CONSOLIDATED OPERATING DATA
                            (In thousands except per share data)

                                           Three Months Ended           Nine Months Ended
                                                March 31,                   March 31,
                                               (Unaudited)                 (Unaudited)
                                       --------------------------   --------------------------
                                          2008           2007          2008           2007
                                       -----------    -----------   -----------    -----------
<S>                                    <C>            <C>           <C>            <C>
Interest income                        $     5,690    $     6,051   $    18,724    $    18,400
Interest expense                             3,600          3,867        11,999         12,227
                                       -----------    -----------   -----------    -----------
Net interest income                          2,090          2,184         6,725          6,173
Provision (recovery) for loan losses           (57)            34           (64)            25
                                       -----------    -----------   -----------    -----------
Net interest income after
  provision (recovery) for loan losses       2,147          2,150         6,789          6,148
Non-interest income                            138            152           440            465
Non-interest expense                           848            832         2,745          2,625
                                       -----------    -----------   -----------    -----------
Income before income tax
  expense                                    1,437          1,470         4,484          3,988
Income taxes                                   475            515         1,450          1,291
                                       -----------    -----------   -----------    -----------

NET INCOME                             $       962    $       955   $     3,034    $     2,697
                                       ===========    ===========   ===========    ===========

EARNINGS PER SHARE:
  Basic                                $      0.43    $      0.41   $      1.34    $      1.16
  Diluted                              $      0.43    $      0.41   $      1.34    $      1.16

WEIGHTED AVERAGE SHARES OUTSTANDING:
  Basic                                  2,238,670      2,322,962     2,261,324      2,320,227
  Diluted                                2,238,758      2,324,278     2,261,724      2,322,059



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