X0202 4 2004-12-02 0000700733 NATIONAL PENN BANCSHARES INC NPBC 0001237214 GARCHINSKY HUGH J PHILADELPHIA & READING AVENUES P. O. BOX 547 BOYERTOWN PA 19512-0547 0 0 0 1 ExecVP of Subsidairy Common Stock 1787.5 D Common Stock 3947.895 I 401K Plan Employee Stock Option (Right to Buy) 28.502 2004-12-02 4 A 0 3500 0 A 2015-01-02 Common Stock 3500 3500 D Options become exercisable in increments of 20% on December 2, 2005, 2006, 2007, 2008, and 2009. Additional options held with various exercise prices or expiration dates. Total options held are 35,810 Includes 54.020 shares acquired pursuant to the Company's Capital Accumulation Plan (a 401 (K) plan). The total is based on the most recent plan statement available (as of September 30, 2004). All shares were acquired in routine new-money acquisitions exempt under Rule 16b-3(c) and Rule 16a-3(f)(I)(I)(B). Also includes 778.775 shares acquired pursuant to the Company's payment of a five-for-four stock split declared August 24, 2004 and paid on September 30, 2004. Includes 357.5 shares acquired pursuant to the Company's payment of a five-for-four stock split declared August 25, 2004 and paid September 30, 2004. Teresa D. Steuer/Sandra L. Spayd , POA 2004-12-03