FCEC First Chester County Corp. (MM)

First Chester County Corporation (NASDAQ:FCEC), parent company of First National Bank of Chester County (the “Bank”), and its Board announced a reduction in its quarterly dividend to $0.02 cents per share. John A. Featherman, III, Chairman, President and CEO, commented, "The decision to reduce our quarterly dividend was thoughtfully considered and very difficult, given the importance of the dividend to our shareholders. First Chester, as well as the industry, continues to confront uncertainty in the financial markets. We believe this is the right precautionary action to strengthen our company, while still providing a dividend to our shareholders."

The Board of Directors has elected to reduce the fourth quarter dividend to $0.02 cents per share for shareholders of record as of the close of business on December 14, 2009, and payable on January 4, 2010. This represents an 86% reduction in the quarterly dividend rate, which has been $0.14 per share since the first quarter of 2009.

About First Chester County Corporation

First Chester County Corporation and its wholly owned subsidiary, First National Bank of Chester County, is a financial institution with 24 branch offices located in Chester, Montgomery, Delaware, Lancaster and Cumberland counties. Founded in 1863, First National Bank of Chester County is the eighth oldest national bank in the country. First National provides quality financial services to individuals, businesses, government entities, non profit organizations, and community service groups. Wealth Management and Trust Services are provided through First National Wealth Management, a division of First National Bank of Chester County. For more information, visit www.1nbank.com. Mortgage services are provided through American Home Bank, a division of First National Bank of Chester County. American Home Bank (AHB) has multiple national delivery channels in the retail and wholesale mortgage arena as well as joint venture mortgage partnerships with builders and systems-built manufacturers. For more information visit www.bankahb.com.

Safe Harbor

This release may contain “forward-looking statements” which may be identified by the use of such words as “believe,” “expect,” “anticipate,” “should,” “planned,” “estimated,” and “potential.” Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2008, our Quarterly Report on Form 10-Q for the quarter ended September 30, 2009, as filed with the Securities and Exchange Commission (SEC), and additional filings we make with the SEC. In addition, the forward-looking statements included in this release represent our views as of the date of this release. We assume no obligation to update publicly or revise any forward-looking statements made herein or any other forward-looking statements made by us, whether as a result of new information, future events or otherwise.

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