SE Financial Corp.

                                                           FOR IMMEDIATE RELEASE
                                                          Contact: Pamela M. Cyr
                                                               President and CEO
                                                                  (215) 468-1700

             SE FINANCIAL CORP. ANNOUNCES RESULTS OF ANNUAL MEETING
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                              FOR IMMEDIATE RELEASE
                              ---------------------



Philadelphia,  Pennsylvania - August 15, 2006 - SE Financial Corp. (OTCBB: SEFL)
announced that its 2006 Annual Meeting of  Stockholders  was held today.  At the
meeting,  J. William Parker,  Jr. and Susanne Spinell Shuster were re-elected as
directors.  Stockholders also ratified the Company's 2006 Stock Option Plan, the
Bank's 2006 Restricted Stock Plan and the appointment of S.R. Snodgrass, A.C. as
the Company's independent auditor for the fiscal year ending October 31, 2006.









     SE Financial Corp. is the holding company for St. Edmond's  Federal Savings
Bank, a federally  chartered stock savings  institution  with four  Neighborhood
Banking Offices serving South Philadelphia, Roxborough and Ardmore, Pennsylvania
and Sewell, New Jersey.

     Statements contained in this news release,  which are not historical facts,
contain  forward-looking  statements  as that  term is  defined  in the  Private
Securities  Litigation Reform Act of 1995. Such  forward-looking  statements are
subject to risk 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 the
Company with the Securities and Exchange Commission from time to time.