Providential Holdings Comments on Cavico Corporation Trading Status

LOS ANGELES, CA--(Marketwire - July 2, 2007) - Providential Holdings, Inc. (OTCBB: PRVH) (German Stock Exchanges: PR7, WKN 935160), a company providing international advisory services specializing in mergers and acquisitions and investing in the rapidly growing economies in Vietnam and Asia, commented today on the trading status of Cavico Corporation, a company Providential assisted during its bid to go public in the U.S. stock market.

Due to Cavico's recent filing of Form 12-J with the Securities and Exchange Commission, stock market profiles and quotes are no longer accessible under the ticker symbol CVCP. In order to obtain information about the company and updates on its news, investors can visit the company website, http://www.cavicocorp.com or its investor relations website at http://www.hawkassociates.com/cvcpprofile.aspx.

Cavico's stock will remain non-trading for at least 60 days while a new Form 10 registration statement is prepared and filed with the SEC. Once the Form 10 is approved, the company expects to commence trading on the OTC Bulletin Board.

Providential Holdings Chairman and CEO Henry Fahman said, "Providential is working with Cavico to maintain open lines of communication with investors as Cavico works to resolve the underlying problems associated with the pre-merger company. The current issue is not connected with the operations or conduct of Cavico, which is actively cooperating with the SEC. Investors can stay informed of the progress of Cavico through releases issued by our investor relations firm, Hawk Associates, which can be viewed on Cavico's company website at http://www.cavicocorp.com and at http://www.hawkassociates.com. Hawk will post updates on its websites and will continue to send out e-mail alerts to notify investors of Cavico news releases. We urge investors to sign up for this free no-spam service."

On June 13, 2007 the SEC announced a two-week suspension in the trading of Cavico Corp.'s common stock because the pre-merger company Laminaire Corp. (n/k/a Cavico Corp.) has not filed the required periodic reports with the Commission. In addition, the SEC issued a public administrative proceeding against Laminaire Corp. (n/k/a Cavico Corp.) to determine whether the registration of each class of securities should be revoked or suspended for up to 12 months. Subsequently, the company filed Form 12-J with the SEC to withdraw its trading on the Pink Sheets and is in the process of preparing a new Form 10 registration statement for trading on the OTC Bulletin Board.

About Cavico Corporation

Founded in 2000, Cavico is a major infrastructure construction, infrastructure investment and natural resources conglomerate headquartered in Hanoi, Vietnam. Cavico is highly respected for its core competency in the construction of mission-critical infrastructure including hydroelectric plants, highways, bridges, tunnels and urban community developments. One of the company's primary competitive advantages is its ability to nurture a project "from concept through completion" with a vertical portfolio of interrelated investment, permitting, design, construction management and facility maintenance services. Cavico's project partners include top multi-national corporations and government organizations. The company employs more than 3,000 people. For more information, visit http://www.cavicocorp.com.

A profile for investors can be accessed at http://www.hawkassociates.com/cvcpprofile.aspx. To sign up for free e-mail notification of future releases, visit http://www.hawkassociates.com/email.aspx.

About Providential Holdings, Inc.

Providential Holdings and its subsidiaries engage in a number of diverse business activities, the most important of which are M&A advisory services, independent energy, and investments in the rapidly growing economies in Vietnam and Asia. The company acquires and consolidates special opportunities in selective high-growth industries to create additional value, acts as an incubator for emerging companies and technologies, and provides financial consultancy and M&A advisory services to U.S. and foreign companies. For more information on Providential Holdings and its subsidiaries, visit http://www.phiglobal.com. As part of its activities in Vietnam, Providential has been hosting seminars in conjunction with the Nasdaq Stock Market, the Vietnamese Chamber of Commerce and Industry and a leading U.S. investment-banking firm to help Vietnamese companies go public and raise capital through the U.S. financial markets.

A profile for investors can be accessed at http://www.hawkassociates.com/prvhprofile.aspx.

For investor relations questions regarding Providential, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com, or visit http://www.americanmicrocaps.com or http://www.hawkassociates.com. To sign up for free e-mail notification of future releases, visit http://www.hawkassociates.com/email.aspx.

Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.

Contact Information: Investor Relations Contact: Hawk Associates, Inc. Frank Hawkins or Julie Marshall Phone: (305) 451-1888 E-mail: Providential Holdings, Inc. 17011 Beach Boulevard, Suite 1230 Huntington Beach, CA 92647 Telephone: (714) 843-5455 Fax: (714) 843-5455