MSVB Mid Southern Bancorp Inc (QX)

Mid-Southern Savings Bank, FSB (�Mid-Southern� or �Savings Bank�) (OTCBB:MSVB.OB) announced today that it will commence a tender offer to purchase all shares of its common stock held by persons owning 99 shares or fewer on the close of business as of February 28, 2008. The Savings Bank will pay $18.00 for each share properly tendered. �The purpose of the tender offer is to reduce the number of Mid-Southern stockholders of record and reduce or eliminate future servicing fees and SEC reporting costs,� stated Michael W. Smith, President and Chief Executive Officer of the Savings Bank. �We estimate that odd-lot stockholders who own less than 100 shares represent over 28% of our total stockholders of record but approximately only 0.2% of our total shares outstanding.� �After the completion of the tender offer, Mid-Southern plans to deregister its common stock with the Office of Thrift Supervision (�OTS�). As a result of these actions, we expect to save considerable costs related to OTS reporting requirements, costs associated with implementing and complying with the Sarbanes Oxley Act, stock listing fees and stock registrar costs. We also expect to reduce the significant amount of management time devoted to these activities,� stated Mr.�Smith. Mid-Southern expects that its common stock will continue to trade on the OTC Bulletin Board following the deregistration of its shares. The Savings Bank will also remain subject to reporting, compliance and oversight of its banking operations by the OTS and the FDIC. Mid-Southern expects to continue to provide its stockholders with quarterly financial information following its deregistration from the OTS. The tender offer is not conditioned on the receipt of any minimum number of shares tendered. The Savings Bank has reserved the right to withdraw the tender offer if it determines that it is inadvisable to proceed with the Offer for any reason. Stockholders and investors are urged to read Mid-Southern�s Schedule�13E-3 being filed today with the OTS in connection with this tender offer, which includes the Offer to Purchase for Cash. These materials contain important information including the various terms and conditions to the offer. Investors may obtain copies of the Savings Bank�s Schedule�13E-3 for free from the OTS at the OTS public reference facilities located at 1700 G Street, N.W. Washington, D.C. 20552 or from the Savings Bank. Questions or requests for documents may be directed to Michael W. Smith at (812) 883-2639, or in writing at Mid-Southern Savings Bank, FSB, 300 North Water Street, Salem, Indiana 47167. This press release is for informational purposes only and is not an offer to buy or a solicitation of an offer to sell any shares of Mid-Southern�s common stock. The offer is being made solely by the Offer to Purchase for Cash and the accompanying Letter of Transmittal, each dated May 2, 2008, which are being mailed to stockholders. The tender offer will expire at 5:00 p.m., Eastern Time, on Friday, June 13, 2008, unless otherwise extended or earlier terminated. Eligible stockholders who would like to accept the offer must tender all shares that they own. Partial tenders will not be accepted. About Mid-Southern Savings Bank, FSB Mid-Southern is a federally chartered stock savings bank headquartered in Salem, Indiana, with branches in nearby communities of Orleans and Mitchell. Mid-Southern has served the financial needs of Washington County, Indiana and the contiguous counties since 1886.