Jewelcor Management Inc Watch

from SC 13D 1 page Jewelcor Letter Head December 17, 2002 Mr. Albert Eckert Chairman Bell Federal Savings & Loan 532 Lincoln Avenue Pittsburgh, Pa 15202 Dear Mr. Eckert: I Appreciate Very Much the Opportunity to Have Met With You in Pittsburgh on December 3, 2002. I Expressed to You at That Time My View That an Institution of Our Size Has Two Choices, to Acquire or Be Acquired. However, I Was Disappointed With Our Recent Telephone Conversation on That Topic. as I Indicated to You, Whichever Strategy the Company May Pursue, if Any, I Would Like to Be Involved in the Process. as a Shareholder of More Than 5% of the Company, With a Wealth of Experience in the Financial Markets, I Know I Could Make Important Contributions to Enhance Shareholder Value. Over the Past 35 Years I Have Been Involved With Many Public Companies, and I Have Always Been a Proponent of the Idea That Large Shareholders Should Have a Seat on the Board of Directors. I Would Appreciate if You and Your Colleagues Would Consider Appointing Me. This Would Send a Positive Signal to the Financial Community. I Hope That You Will Discuss This at Your Next Board of Directors Meeting. When I Filed My 13d, I Indicated, Among Other Things, That I May Seek Representation on the Board of Directors. I Sincerely Hope That This Can Be Accomplished in a Consensual Manner. Best Wishes to and Your Family for the Holiday Season. Sincerely, Seymour Holtzman Sh/Jmq