EXHIBIT 99


Release Date:                                            Further Information:

IMMEDIATE RELEASE                                        David J. Bursic
February 24, 1999                                        President and
                                                         Chief Executive Officer
                                                         Phone: (412) 364-1911


                        WVS FINANCIAL CORP. TO REPURCHASE
                      UP TO 167,000 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  the  repurchase  of up to  167,000  shares,  or
approximately five percent, of the Company's outstanding common stock.

         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.

         David J. Bursic,  President and Chief Executive Officer of the Company,
stated:  "The repurchase program reflects  management's  belief that the current
price of the Company's  common stock does not  adequately  reflect the Company's
long-term business and earnings prospects.  The use of our cash must continue to
be balanced  with other  internal and external  investment  opportunities  while
maximizing  the use of existing  assets and  resources  to generate  stockholder
value. The Company is fortunate to have the financial flexibility that allows it
to demonstrate its commitment to and confidence in its future prospects."

         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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