November , 1996
Dear Senior Preferred Shareholder,
First Lehigh Corporation is offering additional shares of Senior Preferred Stock
in exchange for your agreement to waive and relinquish your right to receive and
be paid the accumulated cash dividends on your currently owned Senior Preferred
shares for the periods ending December 31, 1994 and December 31, 1995, pursuant
to the enclosed PROSPECTUS.
Enclosed is a SUBSCRIPTION AND WAIVER AGREEMENT and the PROSPECTUS which contain
information concerning this offer and subcription instructions. You are urged to
read this material carefully.
To take advantage of this offer, please be sure to return the signed
SUBSCRIPTION AND WAIVER AGREEMENT and your Senior Preferred Stock Certificate(s)
not later than 5:00 p.m. December 20, 1996.
Should you have any questions or require additional information please feel free
to contact us. We appreciate your patience while arrangements were finalized
concerning this offering and thank you for your continued support.
Sincerely,
Xxxxx X. Xxxxxx
Chairman
JLL/pa
Enclosures
