WSFS FINANCIAL CORPORATION - 838 Market Street, Wilmington, Delaware 19801




FOR IMMEDIATE RELEASE
                                                       Contact:   Mark A. Turner

April 22, 2004                                                    (302) 571-7160



              WSFS FINANCIAL CORPORATION RAISES QUARTERLY DIVIDEND

         WSFS Financial  Corporation  (NASDAQ/NMS:  WSFS), the parent company of
Wilmington  Savings Fund Society,  FSB, reported that the Board of Directors has
declared a quarterly cash dividend of $.06 per share.  This dividend  represents
an increase of $0.01, or 20% over the previous quarterly  dividend.  It is to be
paid on May 21, 2004, to shareholders of record as of May 7, 2004.

         WSFS  Financial  Corporation  is  a  $2.2  billion  financial  services
company.  Its  principal  subsidiary,  Wilmington  Savings  Fund  Society,  FSB,
operates 23 retail banking offices in all three counties in Delaware, as well as
Chester and Delaware  Counties in  Pennsylvania.  Other  operating  subsidiaries
include WSFS Credit  Corporation,  WSFS Reit, Inc., WSFS Investment  Group, Inc.
and Montchanin Capital Management,  Inc. For more information,  please visit the
Bank's website at www.wsfsbank.com.




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