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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 T8/XVTBwpFxAXaeJY9jJhXSqoOzp2i2picS32TBhyghU/3/ET09gftW9brHu+kIB
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<SEC-DOCUMENT>0000950159-03-001041.txt : 20031218
<SEC-HEADER>0000950159-03-001041.hdr.sgml : 20031218
<ACCEPTANCE-DATETIME>20031218141203
ACCESSION NUMBER:		0000950159-03-001041
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031217
FILED AS OF DATE:		20031218

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATIONAL PENN BANCSHARES INC
		CENTRAL INDEX KEY:			0000700733
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				232215075
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		PHILADELPHIA AND READING AVE
		STREET 2:		PO 547
		CITY:			BOYERTOWN
		STATE:			PA
		ZIP:			19512
		BUSINESS PHONE:		2153676001

	MAIL ADDRESS:	
		STREET 1:		POST OFFICE BOX 547
		STREET 2:		POST OFFICE BOX 547
		CITY:			BOYERTOWN
		STATE:			PA
		ZIP:			19512

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ROTH C ROBERT
		CENTRAL INDEX KEY:			0001145540

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22537-01
		FILM NUMBER:		031061992

	BUSINESS ADDRESS:	
		STREET 1:		NATIONAL PENN BANCSHARES INC
		STREET 2:		PHILADELPHIA & READING AVENUES
		CITY:			BOYERTOWN
		STATE:			PA
		ZIP:			19512
		BUSINESS PHONE:		6103696202

	MAIL ADDRESS:	
		STREET 1:		NATIONAL PENN BANCSHARES INC
		STREET 2:		PHILADELPHIA & READING AVENUES
		CITY:			BOYERTOWN
		STATE:			PA
		ZIP:			19512
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>roth12-18f4_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-12-17</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000700733</issuerCik>
        <issuerName>NATIONAL PENN BANCSHARES INC</issuerName>
        <issuerTradingSymbol>NPBC</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001145540</rptOwnerCik>
            <rptOwnerName>ROTH C ROBERT</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>NATIONAL PENN BANCSHARES INC</rptOwnerStreet1>
            <rptOwnerStreet2>PHILADELPHIA &amp; READING AVENUES</rptOwnerStreet2>
            <rptOwnerCity>BOYERTOWN</rptOwnerCity>
            <rptOwnerState>PA</rptOwnerState>
            <rptOwnerZipCode>19512</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2003-12-17</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>L</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>45.4683</value>
            <footnoteId id="F1"/>
         </transactionShares>
         <transactionPricePerShare>
           <value>32.99</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>19204.8172</value>
            <footnoteId id="F2"/>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
   <footnotes>
      <footnote id="F1"> This purchase was made by a voluntary cash contribution of $1,500 made to the Company's exempt Dividend Reinvestment Plan, pursuant to a plan adopted on February 18, 2003 under SEC Rule 10b5-1 by the reporting person, which plan was approved by the issuer's Board of Directors. The number of shares reported as purchased is based on the closing stock price of the issuer's common stock on December 17, 2003.</footnote>

      <footnote id="F2"> Includes 18.047 shares acquired upon reinvestment of cash dividends under the Company's exempt Dividend Reinvestment Plan on 11/17/03.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>Teresa D. Steuer, Power of Attorney</signatureName>
      <signatureDate>2003-12-18</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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