REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM






Board of Directors
SE Financial Corp.

We have  reviewed the  accompanying  consolidated  balance sheet of SE Financial
Corp. and subsidiary as of July 31, 2006, the related consolidated statements of
income for the three-month and nine-month  periods ended July 31, 2006 and 2005,
the consolidated statement of changes in stockholders' equity for the nine-month
period ended July 31, 2006, and the consolidated statement of cash flows for the
nine-month  periods ended July 31, 2006 and 2005. These  consolidated  financial
statements are the responsibility of the Company's management.

We conducted  our review in  accordance  with  standards  of the Public  Company
Accounting  Oversight  Board  (United  States).  A review of  interim  financial
information consists principally of applying analytical  procedures to financial
data and making  inquiries of persons  responsible  for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance
with the  standards  of the  Public  Company  Accounting  Oversight  Board,  the
objective  of which is the  expression  of an opinion  regarding  the  financial
statements taken as a whole. Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material  modifications that should
be made to the  accompanying  financial  statements for them to be in conformity
with U.S generally accepted accounting principles.

We have  previously  audited,  in  accordance  with the  standards of the Public
Company  Accounting  Oversight Board (United States),  the consolidated  balance
sheet as of October 31, 2005, and the related consolidated statements of income,
changes  in  stockholders'  equity,  and cash flows for the year then ended (not
presented  herein);  and in our report  dated  December 9, 2005 we  expressed an
unqualified opinion on those consolidated financial statements.



/s/S.R. Snodgrass, A.C.

Wexford, PA
September 5, 2006