Exhibit 99

Release Date:                                               Further Information:

IMMEDIATE RELEASE                                           David J. Bursic
October 18, 2007                                            President and CEO
                                                                    or
                                                            Pamela M. Tracy
                                                            Investor Relations
                                                            Phone: 412/364-1913

              WVS FINANCIAL CORP. ANNOUNCES INCREASED FIRST QUARTER
                        EARNINGS PER SHARE AND NET INCOME

         Pittsburgh,  PA -- WVS  Financial  Corp.  (NASDAQ:  WVFC),  the holding
company for West View Savings Bank,  today  reported net income of $1,023,000 or
$0.45 per  diluted  share,  for the three  months  ended  September  30, 2007 as
compared  to net  income of  $904,000  or $0.39 per  diluted  share for the same
period in 2006.  The $119,000 or 13%  increase in net income  during the quarter
was primarily  attributable to a $223,000  increase in net interest  income,  an
$8,000   increase  in  recovery  for  loan  losses  and  a  $5,000  increase  in
non-interest income, which were partially offset by a $77,000 increase in income
tax expense and a $40,000 increase in non-interest expense.

         The  increase  in net  interest  income  primarily  resulted  from  the
favorable impact of somewhat higher  intermediate term market interest rates and
lower  short-term  borrowing  costs.  To a lesser  extent,  net interest  income
benefited from a higher level of average assets when compared to the same period
in 2006. The increase in income tax expense was primarily attributable to higher
levels of taxable  income.  The increase in  non-interest  expense was primarily
attributable  to  increases  in  charitable  contributions  eligible  for PA tax
credits and increased  employee  related costs,  which were partially  offset by
decreases in correspondent bank service charges.

         During the quarter ended  September 30, 2007, the Company  successfully
completed its Eighth Stock  Repurchase  Program  totaling  125,000  shares.  The
Company also  announced its Ninth Stock  Repurchase  Program  targeting  125,000
shares. Book value per share increased to $13.72 per share at September 30, 2007
from $13.49 per share at June 30, 2007.  Return on average equity totaled 13.20%
at September 30, 2007 compared to 12.14% at June 30, 2007.

         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--
                                      # # #



                                  Page 4 of 6
<page>


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


                                            September 30,     June 30,
                                                2007            2007
                                             (Unaudited)     (Unaudited)
                                            ------------    ------------
Total assets                                $    449,236    $    408,076
Investment securities held-to-maturity           218,409         202,664
Investment securities available-for-sale          19,407           8,933
Mortgage-backed securities held-to-
   maturity                                      130,832         119,271
Mortgage-backed securities available-for-
   sale                                            2,226           2,246
Net loans receivable                              59,561          60,350
Deposits                                         163,659         159,377
FHLB advances: long-term                         135,579         130,579
FHLB advances: short-term                         86,325               0
Other borrowings                                  28,324          82,950
Equity                                            31,012          31,293
Book value per share                               13.72           13.49
Return on average assets                            0.91%           0.90%
Return on average equity                           13.20%          12.14%



                                  Page 5 of 6
<page>



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

                                                         Three Months Ended
                                                           September 30,
                                                            (Unaudited)
                                                     --------------------------
                                                         2007           2006
                                                     -----------    -----------
Interest income                                      $     6,537    $     6,118
Interest expense                                           4,234          4,038
                                                     -----------    -----------
Net interest income                                        2,303          2,080
Recovery for loan losses                                     (17)            (9)
                                                     -----------    -----------
Net interest income after recovery for loan losses         2,320          2,089
Non-interest income                                          157            152
Non-interest expense                                         942            902
                                                     -----------    -----------
Income before income tax expense                           1,535          1,339
Income taxes                                                 512            435
                                                     -----------    -----------

NET INCOME                                           $     1,023    $       904
                                                     ===========    ===========

EARNINGS PER SHARE:
    Basic                                            $      0.45    $      0.39
    Diluted                                          $      0.45    $      0.39

WEIGHTED AVERAGE SHARES OUTSTANDING:
    Basic                                              2,283,510      2,327,183
    Diluted                                            2,284,384      2,329,120



                                   Page 6 of 6