[SE FINANCIAL CORP. LETTERHEAD]

Dear Fellow Shareholders:

At the upcoming June 6th annual meeting of SE Financial  Corp.  (the  Company"),
stockholders  will vote on the approval of proposed  stock  compensation  plans,
Proposals 2 and 3 on your proxy card.  By now you have received from the Company
a proxy  statement  and  proxy  card as well  as a  letter  advising  you of the
recommendation  of leading proxy advisors,  Institutional  Shareholder  Services
(ISS) and Glass Lewis, in favor of our proposed plans.
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As  expressed in our proxy  statement,  the purpose of the Stock Option Plan and
Restricted  Stock  Plan is to  attract  and  retain  qualified  individuals  for
positions of substantial  responsibility and to provide additional  incentive to
directors  and officers to promote the  successful  operation of the Company and
St. Edmond's  Federal Savings Bank.  These plans are designed to ensure that the
interests of management are aligned with those of the  shareholders.  Most large
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corporations and many smaller publicly traded  companies,  such as SE Financial,
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provide an equity stake to key  employees  and  management  as incentive to work
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toward the goal of maximizing the price of the company's shares.
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In March 2005, the Board of Directors of the Company hired a new management team
in order  to more  effectively  implement  the  business  plan  and  expand  our
operations.  This team of highly  experienced  and proven banking  professionals
came from large public financial  institutions.  Stock  compensation  awards are
being  granted to this new  management  team over several  years.  Without stock
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benefit  plans of this nature,  we believe it would be impossible to attract and
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retain this type of talent to the Company.
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The Board of Directors is  unanimous  in its  conviction  that it is in the best
interest  of  shareholders  to  ensure  that key  employees  and the  Board  are
motivated and committed to maximizing shareholder value over the long-term.

Please vote with the Board of Directors  and vote in favor of Proposals 2 and 3,
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approval of the Stock Option Plan and the Restricted Stock Plan.
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SE FINANCIAL CORP.

/s/Marcy C. Panzer                                      /s/Pamela M. Cyr

Marcy C. Panzer, Chairman                               Pamela M. Cyr, President

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              PLEASE VOTE IN FAVOR OF ALL PROPOSALS TO BE PRESENTED
            AT THE MEETING, INCLUDING PROPOSALS 2 AND 3 - APPROVAL OF
                THE STOCK OPTION PLAN AND RESTRICTED STOCK PLAN.

            We need your vote regardless of how many shares you own.

              If you have mailed your proxy card, please accept our
                       thanks and disregard this request.