--------------------------
[LOGO]  WSFS FINANCIAL CORPORATION 838 Market Street, Wilmington, Delaware 19801
        --------------------------

                                                                   PRESS RELEASE

FOR IMMEDIATE RELEASE
                                                        Contact:   Stephen Fowle

April 28, 2005                                                    (302) 571-6833



           WSFS FINANCIAL CORPORATION RAISES QUARTERLY DIVIDEND BY 17%

         WSFS Financial  Corporation  (NASDAQ/NMS:  WSFS), the parent company of
Wilmington  Savings Fund Society,  FSB, reported that the Board of Directors has
declared a quarterly cash dividend of $.07 per share.  This dividend  represents
an increase of $0.01, or 17% over the previous quarterly  dividend.  It is to be
paid on May 27, 2005, to shareholders of record as of May 13, 2005.

         WSFS  Financial  Corporation  is  a  $2.6  billion  financial  services
company.  At March 31, 2005, its principal  subsidiary,  Wilmington Savings Fund
Society,  FSB,  operated  24 retail  banking  offices in all three  counties  in
Delaware,  as well as Chester  and  Delaware  Counties  in  Pennsylvania.  Other
continuing  operating   subsidiaries   include:  WSFS  Investment  Group,  Inc.,
Montchanin  Capital  Management,  Inc. and WSFS Reit, Inc. For more information,
please visit the Bank's website at www.wsfsbank.com.
                                   ----------------

                                      # # #