BV Financial, Inc. Completes Initial Public Offering.

BALTIMORE -- BV Financial, Inc. ("BV Financial"), the holding company for Bay-Vanguard Federal Savings Bank (the "Bank"), announced today that it has completed its initial stock offering at the super maximum of the offering range. Trading is expected to begin on the OTC Electronic Bulletin Board on January 14, 2005 under the symbol "BVFL."

A total of 1,190,250 shares of common stock, representing 45% of BV Financial's outstanding shares of common stock, were sold in the offering at the price of $10.00 per share. The remaining 55% of BV Financial's outstanding shares of common stock were issued to Bay-Vanguard, M.H.C., the federally chartered mutual holding company parent of BV Financial.

Edmund T. Leonard, Chairman of the Board and Chief Financial Officer of BV Financial said that the officers and boards of directors of BV Financial and the Bank wish to express their thanks for the response to the stock offering and that the Bank looks forward to serving the needs of its customers and new stockholders as a community-based stock institution.

Subscribers may obtain information about their specific stock allocation by contacting BV Financial's Conversion Center at [phone], on weekdays between 10:00 a.m. to 4:00 p.m., Eastern Standard Time.

Sandler O'Neill & Partners, L.P. acted as financial advisor to BV Financial. Muldoon Murphy & Aguggia LLP of Washington, D.C. acted as legal counsel to BV Financial.