INDEPENDENT ACCOUNTANT'S REPORT



Board of Directors and Stockholders
WVS Financial Corporation

We have reviewed the  accompanying  consolidated  balance sheet of WVS Financial
Corporation  and subsidiary as of March 31, 2000,  and the related  consolidated
statement of income for the three-month  and nine-month  periods ended March 31,
2000 and 1999, the consolidated statement of changes in stockholders' equity for
the nine-month  period ended March 31, 2000, and the statement of cash flows for
the nine-month periods ended March 31, 2000 and 1999. These financial statements
are the responsibility of the Company's management.

We conducted our review in accordance with standards established by the American
Institute  of  Certified  Public  Accountants.  A review  of  interim  financial
information consists principally of applying analytical  procedures to financial
data and making  inquiries of persons  responsible  for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance
with  generally  accepted  auditing  standards,  the  objective  of which is the
expression of an opinion  regarding the financial  statements  taken as a whole.
Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material  modifications that should
be made to the  accompanying  financial  statements for them to be in conformity
with generally accepted accounting principles.

We have  previously  audited,  in accordance  with generally  accepted  auditing
standards,  the consolidated  balance sheet as of June 30, 1999, and the related
consolidated  statements  of income,  changes in  stockholders'  equity and cash
flows for the year then ended (not  presented  herein);  and in our report dated
July  30,  1999 we  expressed  an  unqualified  opinion  on  those  consolidated
financial statements.


/s/ S.R. Snodgrass, A.C.
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S.R. Snodgrass, A.C.


Wexford, PA
May 8, 2000