Exhibit 99



Release Date:                                      Further Information:

IMMEDIATE RELEASE                                  David J. Bursic
July 15, 2008                                      President and CEO
                                                                or
                                                   Pamela M. Tracy
                                                   Investor Relations
                                                   Phone: 412/364-1913


           WVS FINANCIAL CORP. ANNOUNCES FOURTH QUARTER AND INCREASED
       FISCAL YEAR ENDED JUNE 30, 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 $3,772,000 or $1.67 per
diluted share, for the fiscal year ended June 30, 2008 as compared to net income
of  $3,646,000  or $1.57  per  diluted  share for the same  period in 2007.  The
$126,000  or 3%  increase  in net income  during the fiscal  year was  primarily
attributable to a $213,000 increase in net interest income and a $136,000 change
in  provisions  for loan  losses,  which  were  partially  offset by a  $107,000
increase in non-interest expense, an $87,000 increase in income tax expense, and
a $29,000 decrease in non-interest  income.  The increase in net interest income
primarily  resulted from lower  short-term  borrowing  costs and higher  average
balances of earning assets  (principally  floating rate U.S.  Government  Agency
mortgage-backed  securities),  which  were  partially  offset  by lower  average
balances of U.S. Government Agency bonds and lower rates earned on floating rate
mortgage-backed  securities.  The change in the  provision  for loan  losses was
primarily  attributable  to  $93,000 in  recoveries  on  previously  charged-off
commercial real estate loans. The increase in non-interest expense was primarily
attributable  to  increases  in  charitable  contributions  eligible  for PA tax
credits and increases in employee  related  costs,  while the increase in income
tax expense was primarily due to higher levels of taxable  income.  The decrease
in  non-interest  income was primarily due to lower levels of service charges on
customer  accounts.  During the fiscal  year ended June 30,  2008,  the  Federal
Reserve Open Market  Committee  reduced its targeted rate for federal funds from
5.25% to 2.00% in  response  to turmoil in the  global  equity and fixed  income
markets.

         Net income and diluted  earnings  per share for the quarter  ended June
30, 2008  totaled  $738,000  and $0.33,  respectively,  compared to $949,000 and
$0.41 for the same period in 2007.  The  $211,000 or 22%  decrease in net income
was primarily  attributable to a $339,000 decrease in net interest income, which
was partially  offset by a $72,000  decrease in income tax expense and a $47,000
change in the provision for loan losses. The decrease in net interest income was
primarily  attributable to lower yields on the Company's  floating-rate  earning
assets and lower average  balances of fixed-rate U.S.  Government  Agency bonds,
which were partially offset by lower rates paid on short-term  borrowings,  time
deposits  and money  market  accounts.  The  decrease  in income tax expense was

                                  Page 4 of 7
<PAGE>

primarily  due to lower  levels  of  taxable  income,  while  the  change in the
provision  for  loan  losses  was  primarily  due  to a  $38,000  recovery  on a
previously charged-off commercial real estate loan.

      President and Chief Executive  Officer David J. Bursic  remarked:  "Fiscal
year 2008  presented 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.  continued to emphasize a prudent lending
strategy,  limited  increases in  controllable  operating  costs,  and growth in
Company  total  capital and book value per share.  During  fiscal 2008,  Company
total  capital  increased to $32 million from $31 million,  book value per share
increased  to $14.44  from  $13.49 and return on  average  stockholders'  equity
totaled  12.03%.  The Company  returned over $3 million to our  shareholders  by
repurchasing  107,376 shares of common stock totaling in excess of $1.75 million
and paying $1.44 million in dividends on our common shares."

      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.  In January  2008,  West View  Savings Bank began its
100th year of service to our communities. The Bank wishes to thank our customers
and host communities for allowing us to be their full service bank.

                               --TABLES ATTACHED--
                                      # # #


                                  Page 5 of 7
<PAGE>



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


                                                   June 30,            June 30,
                                                     2008                2007
                                                 (Unaudited)         (Unaudited)
                                                 -----------         -----------

Total assets                                        $423,109           $408,076
Investment securities held-to-maturity               120,559            202,664
Investment securities available-for-sale               7,978              8,933
Mortgage-backed securities held-to-
   maturity                                          213,690            119,271
Mortgage-backed securities available-for-
   sale                                                2,215              2,246
Net loans receivable                                  56,477             60,350
Deposits                                             150,142            159,377
FHLB advances: long-term                             135,579            130,579
FHLB advances: short-term                                  0                  0
FRB short-term borrowings                             80,600                  0
Other short-term borrowings                           20,000             82,950
Equity                                                32,148             31,293
Book value per share                                   14.44              13.49
Return on average assets                                0.89%              0.90%
Return on average equity                               12.03%             12.14%









                                   Page 6 of 7

<PAGE>
<TABLE>
<CAPTION>




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

                                             Three Months Ended            Twelve Months Ended
                                                  June 30,                       June 30,
                                                (Unaudited)                    (Unaudited)
                                         --------------------------    --------------------------
                                             2008           2007           2008           2007
                                         -----------    -----------    -----------    -----------
<S>                                      <C>            <C>            <C>            <C>

Interest income                          $     4,957    $     5,910    $    23,681    $    24,310
Interest expense                               3,144          3,758         15,143         15,985
                                         -----------    -----------    -----------    -----------
Net interest income                            1,813          2,152          8,538          8,325
Provision (recovery) for loan losses             (60)           (13)          (123)            13
                                         -----------    -----------    -----------    -----------
Net interest income after
  provision (recovery) for loan losses         1,873          2,165          8,661          8,312
Non-interest income                              157            160            597            626
Non-interest expense                             892            904          3,636          3,529
                                         -----------    -----------    -----------    -----------
Income before income tax
  expense                                      1,138          1,421          5,622          5,409
Income taxes                                     400            472          1,850          1,763
                                         -----------    -----------    -----------    -----------

NET INCOME                               $       738    $       949    $     3,772    $     3,646
                                         ===========    ===========    ===========    ===========

EARNINGS PER SHARE:
  Basic                                  $      0.33    $      0.41    $      1.67    $      1.57
  Diluted                                $      0.33    $      0.41    $      1.67    $      1.57

WEIGHTED AVERAGE SHARES OUTSTANDING:
  Basic                                    2,226,254      2,319,030      2,252,604      2,319,928
  Diluted                                  2,226,260      2,319,965      2,252,906      2,321,536







Page 7 of 7
</TABLE>