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#3 / October 2005
Additional Information and Where To Find It
National Penn Bancshares intends to file a registration statement on Form S-4 in connection with the transaction,
and Nittany Financial intends to mail a proxy statement/prospectus to its shareholders in connection with the
transaction. Investors and security holders of Nittany Financial are urged to read the proxy statement/prospectus
when it becomes available, because it will contain important information about National Penn Bancshares, Nittany
Financial, and the transaction. Investors and security holders may obtain a free copy of the proxy
statement/prospectus (when it is available) at the SEC's web site at www.sec.gov. A free copy of the proxy
statement/prospectus may also be obtained from National Penn Bancshares or Nittany Financial. You may direct
such a request to either of the following persons:
Sandra L. Spayd, Corporate Secretary David Z. Richards Jr., President and CEO
National Penn Bancshares, Inc. Nittany Financial Corporation
Philadelphia and Reading Avenues 116 East College Ave
Boyertown, PA 19512 State College, PA 16801
(610) 369-6202 (814) 238-5724
National Penn Bancshares, Nittany Financial and their respective executive officers and directors may be deemed to
be participants in the solicitation of proxies from the shareholders of Nittany Financial in favor of the transaction.
Information regarding the interests of these officers and directors in the transaction will be included in the proxy
statement/prospectus.
In addition to the registration statement on Form S-4 to be filed by National Penn Bancshares in connection with the
transaction, and the proxy statement/prospectus to be mailed to the shareholders of Nittany Financial in connection
with the transaction, each of National Penn Bancshares and Nittany Financial file annual, quarterly and current
reports, proxy and information statements and other information with the SEC. Investors may read and copy any of
these reports, statements and other information at the SEC's public reference rooms located at 100 F Street, N.E.,
Washington, D.C., 20549, or any of the SEC's other public reference rooms located in New York and Chicago.
Investors should call the SEC at 1-800-SEC-0330 for further information on these public reference rooms. The
reports, statements and other information filed by National Penn Bancshares and Nittany Financial with the SEC are
also available for free at the SEC's Web site at www.sec.gov. A free copy of these reports, statements and other
information may also be obtained from National Penn Bancshares or Nittany Financial.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall
there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be
made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as
amended.
