Thistle Group Holdings, Co.            Subject:  Special Meeting of Stockholders
6060 Ridge Avenue
Philadelphia, Pennsylvania  19128      Contact:  John F. McGill
                                                 President
                                                 (215) 483-3777

                                        Date:    December 19, 2003
(Logo)

FOR IMMEDIATE RELEASE
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                    THISTLE GROUP HOLDINGS, CO. SHAREHOLDERS
                APPROVE PLAN WITH CITIZENS FINANCIAL GROUP, INC.

         Philadelphia, Pennsylvania -- Thistle Group  Holdings,  Co., the parent
savings and loan holding  company of  Roxborough  Manayunk  Bank,  Philadelphia,
Pennsylvania,  announced  that  stockholders  approved the Agreement and Plan of
Merger dated  September  22, 2003, by and among  Citizens Bank of  Pennsylvania,
Citizens  Financial  Group,  Inc. and Thistle Group  Holdings,  Co. at a Special
Meeting of Stockholders held December 18, 2003. Upon consummation of the merger,
each outstanding  share of Thistle common stock will be converted into the right
to receive $26.00 in cash.

         The  Reorganization  is expected to close in early  January  2004.  The
Company's  common stock is traded on the NASDAQ National Market System under the
symbol "THTL."


         This release may contain  forward-looking  statements.  We caution that
such statements may be subject to a number of  uncertainties  and actual results
could differ materially and, therefore,  readers should not place undue reliance
on  any  forward-looking  statements.  Thistle  Group  Holdings,  Co.  does  not
undertake,  and specifically  disclaims,  any obligation to publicly release the
results of any revisions that may be made to any  forward-looking  statements to
reflect the occurrence of anticipated or  unanticipated  events or circumstances
after the date of such statements.