Royal Financial Inc., Annual General Meeting, Oct 21, 2009, at 13:00 US Central Time. Location: 9226 South Commercial Avenue, Chicago, IL 60617, United States. Agenda: To elect three Class II directors to serve for a three-year term; to ratify the appointment of Crowe Horwath LLP, as the company's independent public accountants for the fiscal year ending June 30, 2010; and to transact such other business as may properly come before the meeting or any adjournment thereof, including whether or not to adjourn the meeting.

Royal Financial Inc. said that its board of directors has finished a previously disclosed analysis of options to maximize stockholder value, including possibly selling the company. James A. Fitch Jr., chairman of the company said, “A sale is infeasible at this time.” He added, “The pressures and uncertainties created by the ongoing global economic crisis that affect the rest of our industry have severely impacted Royal's ability to maximize stockholder value by means of a sale. Until this strategic option becomes viable once again, the board will focus on enhancing stockholder value through conservation of capital, mitigation of credit risk in our loan portfolio, preservation of liquidity, and rationalization of general and administrative expenses.” He continued, “The board will remain open to evaluating any strategic opportunities that may develop as the financial markets begin to recover and the banking environment stabilizes.”

Royal Financial Inc. announced that on July 15, 2008, C. Michael McLaren was appointed to the Board of Directors of the Company, effective July 21, 2008. Mr. McLaren will serve as a Class I director of the Company, with a term expiring at the Company's annual stockholders' meeting to be held in 2008. Mr. McLaren was also appointed to the Board of Directors of the Royal Savings Bank effective July 21, 2008. Mr. McLaren, age 60, is President of BPS Capital Management Inc.