PSB Bancorp, Inc. Intends to Appeal Recent U.S. District Court's Decision

PSB Bancorp, Inc. Intends to Appeal Recent U.S. District Court's
Decision 


PHILADELPHIA, April 2  /PRNewswire-FirstCall/ -- Anthony DiSandro, President and
Chief Executive Officer of PSB Bancorp, Inc. , announced today that on March 31,
2004, the U.S. District Court for the Eastern District of Pennsylvania granted
the plaintiffs' motion for summary judgment in an action in which the plaintiffs
seek to have certain stock options, previously voided by PSB, to be declared
valid and enforceable.  PSB will appeal the court's decision.

If, on appeal, the motion is upheld, the aggregate number of shares underlying
PSB's outstanding stock options would increase from 284,742 shares to 1,177,982
shares.  This action only affects 895,240of the 1,371,200 options previously
declared void by PSB. 

DATASOURCE: PSB Bancorp, Inc.



CONTACT:  Anthony DiSandro, President, PSB Bancorp, Inc.,

[phone]



Web site:  http://www.firstpennbank.com/ 

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