A large number of former Johnstonians were involved in World War II with a significant number losing their lives. Two new panels were commissioned for the war memorial and money was, again, raised from contributions. The two panels were dedicated in June 1948 with a ceremony, performed by the Reverend R.F. Morgan – a former student at the school – at St Margaret's Church. A significant amount of money was raised from subscriptions. After the new panels had been paid for the residue of the money was used for a War Memorial prize, which was awarded annually to a high achieving student at the school.