X0202 4 2006-12-04 0000700733 NATIONAL PENN BANCSHARES INC NPBC 0001305484 Debkowski Michelle H PHILADELPHIA & READING AVENUES P. O. BOX 547 BOYERTOWN PA 19512-0547 0 1 0 0 Chief Accounting Officer Common Stock 2006-12-04 5 J 0 E 87.0054 0 A 1441.2554 D Common Stock 2006-12-04 5 J 0 E 63.016 0 A 491.311 I 401 (k) Plan Employee Stock Option (Right to Buy) 20.57 2006-12-04 4 A 0 5500 20.57 A 2017-01-04 Common Stock 5500 5500 D Includes 45.3623 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 41.6431 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. Additional options held with various exercise prices or expiration dates. Total options held are 22,796. Sandra L. Spayd/Teresa D. Steuer, POA 2006-12-06