Yes! Once you have created and positioned a set of frames or guides you can then save them for later reference.
Why is this useful? For example, you can create guides that are aligned across several different Photoshop files as opposed to creating an empty Photoshop file, creating guides, and Saving As etc. for each individual file. This way you can save a set of guides or frames that are associated with a certain project or group of images. Neat huh? :-)
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