EXHIBIT 99


Release Date:                                            Further Information:

IMMEDIATE RELEASE                                        David J. Bursic
January 2, 2003                                          President and
                                                         Chief Executive Officer
                                                               -or-
                                                         Pamela M. Tracy
                                                         Investor Relations
                                                         Phone: (412) 364-1913


                        WVS FINANCIAL CORP. TO REPURCHASE
                      UP TO 130,000 SHARES OF COMMON STOCK

     PITTSBURGH,  PENNSYLVANIA--WVS  Financial Corp. (NASDAQ:WVFC),  the holding
company for West View Savings Bank,  announced today that the Company's Board of
Directors  authorized  its Sixth  Stock  Repurchase  Program.  The  Sixth  Stock
Repurchase  Program  will  total  130,000  shares  or  approximately  5% of  the
2,591,807 shares expected to be outstanding upon completion of the current Fifth
Stock  Repurchase  Program,  and will  commence  upon  completion of the current
repurchase  program.  As of  December  31,  2002,  10,035  shares  remain  to be
repurchased  under the current  program as the Company has  repurchased  189,965
shares.

     Repurchases  are  authorized to be made by the Company from time to time in
open-market  transactions  during the next  twelve  months as, in the opinion of
management,  market conditions  warrant.  The repurchased shares will be held as
treasury stock and may be reserved for issuance  pursuant to the Company's stock
benefit plans.

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


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