To: All Member Banks in the Third Federal Reserve District

Attention: Chief Executive Officer

Subject: Election results and other appointments

We are pleased to announce the following election results:

Frederick (Ted) C. Peters, President & CEO, Bryn Mawr Trust Company, Bryn Mawr, PA, has been elected a Class A director by member banks in Electoral Group 2. Mr. Peters' term will begin January 1, 2009.

Michael F. Camardo, Retired Executive Vice President, Lockheed Martin ITS, Cherry Hill, NJ, has been re-elected a Class B director by member banks in Electoral Group 3. Mr. Camardo's term will begin January 1, 2009.

Additionally, the following appointments were made by the Board of Governors of the Federal Reserve System and are effective January 1, 2009:

William F. Hecht, Retired Chairman, President & CEO, PPL Corporation, Allentown, PA, has been reappointed Chairman of the Board of Directors.

Charles P. Pizzi, President & CEO, Tasty Baking Company, Philadelphia, PA, has been reappointed Deputy Chairman of the Board of Directors.

Federal Reserve Bank of Philadelphia - 2009 Board of Directors

William F. Hecht, Chairman

Retired Chairman, President & CEO
PPL Corporation

Charles P. Pizzi, Deputy Chairman

President & CEO
Tasty Baking Company

Michael F. Camardo

Retired Executive Vice President
Lockheed Martin Information & Technology Services

Keith S. Campbell

Mannington Mills, Inc.

Ted T. Cecala

Chairman & CEO
Wilmington Trust Corporation

Frederick (Ted) C. Peters

President & CEO
Bryn Mawr Trust Company

Aaron L. Groff, Jr.

Chairman, President & CEO
The Ephrata National Bank

Garry L. Maddox

President & CEO
A. Pomerantz & Company

Jeremy Nowak

President & CEO
The Reinvestment Fund

Additional information:

Inquiries concerning this circular letter should be directed to Linda O’Donnell, Assistant to the Corporate Secretary, at (215) 574-6389.