[SE FINANCIAL CORP. LETTERHEAD]

                                                 For Release on January 23, 2006
                                                   For More Information Contact:
                                                Pamela M. Cyr, President and CEO
                                                                  (215) 468-1700

           SE FINANCIAL CORP. ANNOUNCES COMPLETION OF STOCK REPURCHASE

         PHILADELPHIA,  PA (OTC BB  "SEFL")--January  23,  2006-  Pamela M. Cyr,
President  and CEO of SE  Financial  Corp.,  holding  company  for St.  Edmond's
Federal Savings Bank, today announced that the Company  completed the repurchase
of a total of 300,000  shares of common  stock at an average  price per share of
$14.185,   excluding  brokerage   commissions.   This  completes  the  Company's
repurchase of shares under its stock repurchase program announced on January 17,
2006 as well as shares that were remaining to be repurchased under the Company's
stock repurchase program announced on July 29, 2005. Following the completion of
these repurchase programs,  the Company currently has 2,286,375 shares of common
stock issued and outstanding,  including shares held by the Company in its Stock
Compensation Trust.

         St.  Edmond's  Federal  Savings  Bank is a federally-  chartered  stock
savings  bank which  conducts  business  from its main  office in  Philadelphia,
Pennsylvania, a branch office in Roxborough,  Pennsylvania,  and a branch office
in Sewell,  New Jersey.  The Bank's deposits are insured up to the maximum legal
amount by the Federal Deposit Insurance Corporation (FDIC). The Company's common
stock is traded on the OTC Bulletin Board under the symbol "SEFL."

         Statements  contained in this news  release,  which are not  historical
facts,  are  forward-looking  statements  as that term is defined in the Private
Securities  Litigation Reform Act of 1995. Such  forward-looking  statements are
subject to risks and  uncertainties  which could cause actual  results to differ
materially  from those currently  anticipated due to a number of factors,  which
include,  but are not limited to,  factors  discussed in  documents  filed by SE
Financial Corp.  with the Securities and Exchange  Commission from time to time.
The Company does not undertake to update any forward-looking statement,  whether
written  or oral,  that may be made  from  time to time by or on  behalf  of the
Company.

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