X0202 4 2006-12-04 0000700733 NATIONAL PENN BANCSHARES INC NPBC 0001145541 SPAYD SANDRA L PHILADELPHIA & READING AVENUES P. O. BOX 547 BOYERTOWN PA 19512-0547 0 1 0 0 Corporate Secretary Common Stock 2006-12-04 5 J 0 E 766.002 0 A 5956.0721 D Common Stock 2006-12-04 5 J 0 E 170.138 0 A 6126.2101 D Common Stock 2006-12-04 5 J 0 E 474.262 0 A 14649.821 I 401K Plan Employee Stock Option (Right to Buy) 20.57 2006-12-04 4 A 0 11500 20.57 A 2017-01-04 Common Stock 11500 11500 D Includes 88.7062 shares acquired upon reinvestment of cash dividends under the Company's exempt Dividend Reinvestment Plan on February 17, May 17, August 17, and November 17, 2006. Also includes 81.4318 shares acquired pursuant to the Company's payment of a 3% stock dividend declared on August 23, 2006 and paid on September 30, 2006. Shares acquired pursuant to the Company's Capital Accumulation Plan (a 401(K) plan) as of 9/30/06. All shares were acquired in routine new-money acquisitions exempt under Rule 16b-3(c) and Rule 16a-3(f)(1)(i)(B). Options become exercisable in increments of 20% on December 4, 2007, 2008, 2009, 2010, and 2011. Includes 579.6614 shares acquired pursuant through the Company's exempt Employee Stock Purchase Plan during first, second, and third quarters 2006. Includes 96.0719 shares acquired upon reinvestment of cash dividends under the Company's exempt Dividend Reinvestment Plan on February 17, May 17, August 17, and November 17, 2006; and also includes 90.2687 shares acquired pursuant to the Company's payment of a 3% stock dividend declared August 23, 2006 and paid on September 30, 2006. Additional options are held with various exercise prices or expiration dates. Total options held are 83,407 Teresa D. Steuer/Sandra L. Spayd, POA 2006-12-06