EXCHANGE RATIO FINALIZED FOR NATIONAL PENN BANCSHARES'
                  MERGER WITH COMMUNITY INDEPENDENT BANK, INC.


     BOYERTOWN,  PA --  November  1,  2000 --  National  Penn  Bancshares,  Inc.
(Nasdaq/NMS:NPBC),   parent   company  of  National  Penn  Bank,  and  Community
Independent Bank, Inc. (AMEX:INB), parent company of Bernville Bank, N.A., today
announced  that,  after  expiration of a 20 trading days valuation  period,  the
exchange ratio for the pending merger of Community  Independent  Bank, Inc. into
National Penn Bancshares, Inc. has been finalized at .945 share of National Penn
Bancshares stock for each share of Community  Independent Bank stock.  While the
valuation  period  did not  result in any  change  in the  exchange  ratio,  the
original  exchange  ratio has been adjusted to .945 to 1 to reflect the 5% stock
dividend declared on October 25, 2000 by National Penn Bancshares and payable on
December 20, 2000.

     The  transaction  is subject  to  approval  by  shareholders  of  Community
Independent  Bank at a meeting  to be held on  November  30,  2000,  receipt  of
regulatory approvals, and other customary conditions. Closing is anticipated for
January 3, 2001.

     Upon completion of the merger, National Penn Bancshares will have assets of
$2.6 billion and an expanded  presence in western Berks County with the addition
of Bernville Bank's four community offices.