The group photograph of the Annual General Meeting held in 1953 marks the first record of history to be found of the Association.
In 1965, the Association was revived. Messrs.Henry Gunasinghe, Shriyana Salwatura, Benet Seneviratne, J.A.Jinadasa, B.C.Silva, Douglas Mudalige, Daya Muthukumara, C.Abeygunawardana, M.H.H.Ariyarathne, Premachandra Denipitiya, H.W.Dissanayaka and Dharmasena Dias were instrumental in the process of revival. Due to the immense efforts taken they could implement a subscription fee viz, a life membership fee of 25/= and annual membership fee of 2/=. The president was the principal Mr.B.K.Silva while Messrs.C.Abeygunawardana,then D.R.O. of Hiniduma, and Shriyananda Salvatura worked respectively as the hony;secretary and hony;treasurer.
During that period, the OBA fund was nurtured only through the subscription fee and the money was deposited in National Savings Bank under the account no; 1634 which has been active in continuum up to now. The fund was raised by several old Vidyalokians at the beginning with the contributions from their personal wealth. Among them were Messrs. D.Gunarathne, Ananda Ganegoda, Patrick Silva, Cyril Jayaratne, B.C.Dahanayake, Nandadasa Rajapaksha, Shelton Gamage, Benet Seneviratne, Gunasoma Gamage and several other philanthropic old Vidyalokians. The benevolent act of fund raising is still continued and would lead the school towards greater heights in future as well.