PSBI Psb Bancorp (MM)

Appeals Court Dismisses PSB Bancorp Options Case PHILADELPHIA, April 4 /PRNewswire-FirstCall/ -- On April 1, 2005, the United States Court of Appeals for the Third Circuit ("Appeals Court") granted PSB Bancorp, Inc.'s (NASDAQ:PSBI) ("PSB") petition for rehearing and vacated the Appeals Court's prior Opinion validating certain options purportedly held by dissident shareholders, including Conwell Ltd. Partnership. In its Order, the Appeals Court acknowledged the validity of PSB's arguments, vacated the Appeals Court's prior opinion, and directed the District Court to dismiss the underlying case for lack of subject matter jurisdiction. PSB does not know and cannot predict whether the dissident shareholders will continue to litigate this or related cases. This press release contains statements concerning the Company's strategies, plans and objectives. These statements constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995), which involve significant risks and uncertainties. Therefore, you should not rely solely on anything contained in this press release in making any investment decisions regarding the Company. DATASOURCE: PSB Bancorp, Inc. CONTACT: Anthony DiSandro, President, PSB Bancorp, +1-215-979-7910 Web site: http://www.firstpennbank.com/

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