August 6, 2002



     PVF  CAPITAL  CORP.  ANNOUNCES  COMPLETION  OF  EXISTING  STOCK  REPURCHASE
PROGRAM,  COMMENCEMENT OF NEW STOCK REPURCHASE  PROGRAM AND THE APPOINTMENT OF A
NEW DIRECTOR

     PVF Capital Corp.  announced that it has completed its previously announced
stock  repurchase  program and is  commencing  a new stock  repurchase  program.
Pursuant to its stock repurchase  program commenced on June 1, 1999, the Company
repurchased a total of 260,251  shares of its common stock.  Under the new stock
repurchase  program,  the  Company  may  acquire  up to  262,844  shares  of the
Company's  common stock,  which  represents  approximately 5% of the outstanding
common stock. The program will be dependent upon market  conditions and there is
no guarantee as to the exact number of shares to be repurchased by the Company.

     John R. Male, Chairman of the Board, stated that the Board of Directors has
authorized the repurchase  program,  which is expected to be completed within 12
months.  Mr. Male explained that the Board of Directors  considers the Company's
common stock to be an attractive investment.  It is expected that a reduction in
the  amount  of the  Company's  outstanding  stock  would  have  the  effect  of
increasing the Company's per share  earnings and return on equity.  According to
Mr.  Male,  the  repurchases  generally  would be effected  through  open market
purchases,  although  he  did  not  rule  out  the  possibility  of  unsolicited
negotiated transactions or other types of repurchases.

     Chairman Male also  announced that Raymond J. Negrelli has been appointed a
Director of the Company and of Park View Federal  Savings Bank effective  August
1,  2002.  Mr.  Negrelli  is the  president  of  Raymond J.  Negrelli,  Inc.,  a
commercial  real estate  management  and brokerage  firm with emphasis on retail
properties  in  northeast  Ohio;  a general  partner  in Bay  Properties  Co., a
commercial real estate investment and development company with a focus on retail
and office  properties in northeast  Ohio; and, a general partner in Landerbrook
Co.,  land  developers  of the  Landerbrook  Office Park in the City of Mayfield
Heights, Ohio.

     Mr. Negrelli's  professional  designations include Registered Home Builder,
NAHB,  Licensed  Real  Estate  Broker,  State of  Ohio,  Real  Estate  Education
Instructor, State of Ohio, and Certified Residential Appraiser. Mr. Negrelli has
been a member and trustee of the Builders  Association,  and was a member of the
Cleveland  Area  Board  of  Realtors  and the  National  Residential  Appraisers
Institute.  He is currently a Community  Leadership  Council Member of Hillcrest
Hospital, Mayfield Heights, Ohio.

     This press release contains  statements that are  forward-looking,  as that
term  is  defined  by the  Private  Securities  Litigation  Act of  1995  or the
Securities and Exchange Commission in its rules, regulations,  and releases. The
Company  intends  that such  forward-looking  statements  be subject to the safe
harbors created  thereby.  All  forward-looking  statements are based on current



expectation regarding important risk factors including, but not limited to, real
estate  values,  and the impact of  interest  rates on  financing.  Accordingly,
actual  results  may  differ  from  those   expressed  in  the   forward-looking
statements,  and the  making of such  statements  should  not be  regarded  as a
representation by the Company or any other person that results expressed therein
will be achieved.

     PVF Capital  Corp.'s  common  stock trades on the Nasdaq  Small-Cap  market
under the symbol PVFC

     Submitted by: C. Keith Swaney 440-248-7171