United States
                       Securities and Exchange Commission
                              Washington, DC 20549

                                _______________


Notice of Exempt Solicitation

1.       Name of the Registrant:

         SE Financial Corp.

2.       Name of person relying on exemption:


          Lawrence B. Seidman,  Seidman & Associates,  LLC,  Seidman  Investment
          Partnership,   LP,  Seidman  Investment  PartnershipII,   LP,  Federal
          Holdings,  LLC,  Pollack  Investment  Partnership,  LP and Broad  Park
          Investors, LLC.

3.        Address of person relying on exemption:
          100 Misty Lane, Parsippany, NJ 07054

4.        Written materials.  Attach written material required to be submitted
          pursuant to Rule 14a-6(g)(1) [Sec.240.14a-6(g)(1)]:

_______________________________________________________________________________

                           SEIDMAN & ASSOCIATES, LLC
                                 100 Misty Lane
                                 P. O. BOX 5430
                              Parsippany, NJ 07054
                              (973) 560-1400, X108

                                  May 12, 2005





DEAR FELLOW SE FINANCIAL CORP. SHAREHOLDER:

My name is Lawrence B.  Seidman  ("Seidman")  and I am the Manager for Seidman &
Associates,  LLC ("SAL"). I am also responsible for the investment,  and voting,
decisions made by Seidman Investment Partnership, LP ("SIP"), Seidman Investment
Partnership  II, LP ("SIP  II"),  Federal  Holdings,  LLC  ("FEDERAL"),  Pollack
Investment  Partnership,  LP ("PIP") and Broad Park  Investors,  LLC  ("BROAD"),
(hereinafter  referred  to as the Seidman  Entities).  As of May 10,  2005,  the
Seidman  Entities  beneficially own 81,400 shares,  approximately  3.167% of the
outstanding Common Stock, of SE Financial Corp. (the "Company").

I am urgently  seeking your assistance to defeat the Company's  attempt to award
its Directors  and Senior  Management  stock options  (Proposal 2 - SE Financial
Corp.  2005 Stock Option Plan) for up to 257,887  shares of Common Stock (Option
Shares) and up to 103,155 shares (Proposal 3 - St. Edmond's Federal Savings Bank
2005  Restricted  Stock Plan) of restricted  stock (Free Stock  Shares).  At the
$11.55 share price  reported in the  Company's  proxy  statement as of April 22,
2005,  the Free  Stock  Shares  would  cost  the  Company  and its  shareholders
approximately  $1,191,440.  This cost will  reduce the  Company's  book value by
approximately $.46 per share.

As you recall,  the  Company  went public on May 6, 2004 less than one year ago.
The  Management  team seeking your approval for these benefit plans  consists of
four  executives,  three of whom have only been  employed by the  Company  since
March 2005,  or for less than three (3) months.1 If approved,  the  shareholders
will not be able to later reverse this award of the Option Shares and Free Stock
Shares, even if the Company's future financial performance is not satisfactory.

The Company  should  delay  seeking  shareholder  approval for these two benefit
plans  until  next  year's  Annual  Meeting  in order  to give the  shareholders
adequate time to evaluate the  Company's  performance  under the new  Management
team.
- -----------
1 Pamela Mays,  President and Chief Executive Officer,  J. Christopher Jacobsen,
Chief Operating Officer and Charles Frederick Miller, Chief Lending and Credit
Officer.


If the Stock  Option Plan is approved,  the Company has  disclosed on Page 13 of
its proxy  statement  that the Company  will  immediately  award  240,000 of the
257,887 Option Shares.2 Sixty Thousand  (60,000) Option Shares or 23.27% will be
given to the three new, and unproven, executive officers and Sixty-Five Thousand
(65,000) Option Shares or 25.20% to Nancy C. Panzer, the Company's  Chairperson.
This leaves only 17,887 Option Shares available for future  officers,  directors
and  employees.  The  rush to seek  approval  of the  Stock  Option  Plan is now
compounded by (i) the rush to award the Option Shares and (ii) the front loading
of the vesting of the Option Shares as demonstrated by the immediate  vesting of
106,800 Option Shares on the date of grant and 79,200 one year after the date of
grant. This is not responsible conduct by the Company's Board and Management.

If the Free Stock Plan is approved,  the Company has disclosed on Page 18 of its
proxy statement that the Company will  immediately  award 103,000 of the 103,155
Free Stock Shares,  leaving 155 Free Stock Shares for future distribution.3 This
is also  irresponsible  conduct by the Board and  Management.  The three new and
unproven  executive  officers  would each receive  12,000 shares worth  $138,000
($11.55 share price), an amount that could exceed their annual compensation4, or
$415,800 in the aggregate.

In my opinion the Company does not  adequately  disclose the cost of the benefit
plans in its proxy  material.  As for the Stock Option Plan the Company does not
detail how it intends to handle the  expensing  of the Option  Shares and it is,
therefore impossible to calculate this expense.

With  respect to the Free Stock  Shares at the $11.55  share  price the  Company
would  incur  additional   non-interest  expenses  of  approximately   $184,800,
$219,450,  $254,100,  $358,050 and $173,250 for 2005,  2006, 2007, 2008 and 2009
respectively.  To place this cost in perspective,  if the first quarter 2005 Net
Income of $270,885 was annualized and the 2005 additional  non-interest  expense
was incurred, the earnings per share for the calendar year would be reduced from
approximately  $.45 to  $.38,  or  approximately  15.90%.  Any  increase  in the
Company's share price would cause an increase in the non-interest expenses shown
herein.

- --------
2 The vesting schedule is disclosed in the footnote of Page 13 of the Company's
 proxy statement.
3 The vesting schedule is disclosed in the footnotes on Page 18 of the Company's
 proxy statement.
4 I have not been able to find where the Company has publicly disclosed copies
of the employment contracts for these executives.

                SHAREHOLDERS SHOULD ASK THEMSELVES WHY THE RUSH?

I normally  support Stock Option Plans that are proposed as a separate  proposal
from the Free Stock Plans. But, in this case, I oppose both Proposals because of
(i) the new and  unproven  management  team,  (ii)  the  unreversability  of the
benefit plans if the Company's future financial  performance is not satisfactory
and (iii) the immediate  awarding of principally  all the Option Shares and Free
Stock Shares.
These Plans should only be proposed after the new  Management  team has a proven
track record of increasing  the Company's Net Income and the value of our stock.
The request to approve these Proposals is premature.

Please vote AGAINST  Proposals Nos. 2 and 3 on the Company's proxy card that you
should have received from the Company. If you have already voted, you have every
right to change  your vote.  Please  contact  your bank or broker  and  instruct
him/her to vote AGAINST  Proposals Nos. 2 and 3. If you still have a copy of the
Voting  Instruction Form sent to you by your bank or broker, you can change your
vote by calling the toll-free  number located on the form or you can change your
vote by using the  internet  instructions.  If you have any  questions on how to
vote your shares or how to change your vote, please contact your bank or broker.
For any other questions, please call D.F. King & Co., Inc. at 888-644-5854.

Please also feel free to contact me at the contact numbers noted below. We need
your vote AGAINST Proposal Nos. 2 and 3.


Sincerely,

/ss/Lawrence B. Seidman

LAWRENCE B. SEIDMAN

MANAGER, SEIDMAN & ASSOCIATES, LLC
(Daytime phone) 973-560-1400, X108
(Evening Phone) 973-694-2596
Cell: 201-738-1944
E-Mail: lbseidman@MSN.com