Providential Holdings Subsidiary Sets Up Headquarters for Major South Hoi An Development Project

LOS ANGELES, CA and HANOI, VIETNAM--(Marketwire - January 29, 2008) - Providential Holdings, Inc. (OTCBB: PRVH), a company providing advisory, merger and acquisition services as well as independently investing in Vietnamese economic opportunities, today announced its South Hoi An development arm would be setting up headquarters in Tam Ky, Quang Nam province, Vietnam.

Providential's wholly owned subsidiary, PhiLand Corp., which was created to manage the South Hoi An development project, has entered into a one-year lease to set up a field office and headquarters for its Vietnam-based wholly owned subsidiary, PhiLand Vietnam, Ltd.

Robert Buceta, Providential's corporate strategist and project director for PhiLand Corp., said, "The new location for our PhiLand Corp. field office and PhiLand Vietnam headquarters will place our development team closer to the South Hoi An site as the first phase of the project gets underway. Earlier this month we appointed a lead architect to the PhiLand Pointe91 project, a 57-acre gated seaside community featuring a luxury boutique hotel, private residences and a country club. We expect to move the field office to PhiLand Pointe91 at Bien Rang, Chu Lai Open Economic Zone after we complete the construction of our information center at the site."

The PhiLand Corp. field office and PhiLand Vietnam Ltd. headquarters will be located at: 246 Trung Nu Vuong St., Tam Ky, Quang Nam, Vietnam. Telephone number 84-510-851112; fax number 84-510-851113.

About South Hoi An

Named as one of Vietnam's four World Heritage sites, Hoi An, located in Quang Nam, is a quiet riverside destination dotted with temples, shrines and Chinese style tile-roofed wooden houses. With its compelling architecture and history as one of Vietnam's most important international seaport towns, Hoi An has rapidly become a popular tourist destination.

The coastal areas of the central province of Quang Nam have already attracted the attention of investors. Since 2004, these tourist areas have been developing strongly, registering over 166 projects with a total capital of over $1.6 billion. For more information about PhiLand and the South Hoi An Project, please visit http://www.philandcorp.com.

About Providential Holdings, Inc.

Providential Holdings and its subsidiaries engage in a number of diverse business activities, providing advisory, merger and acquisition services as well as independently investing in Vietnamese economic opportunities For more information on Providential Holdings, 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 Vietnam 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 Antonella Montagna or Frank Hawkins, 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. Antonella Montagna and Frank Hawkins Phone: 305-451-1888 Email: Providential Holdings, Inc. 17011 Beach Boulevard, Suite 1230 Huntington Beach, CA 92647 Telephone: 714-843-5455 Fax: 714-843-5452