Providential Holdings Reports Q2 FY '08 Financial Results

LOS ANGELES, CA--(Marketwire - February 13, 2008) - Providential Holdings, Inc. (OTCBB: PRVH), a company providing advisory, merger and acquisition services as well as independently investing in Vietnamese economic opportunities, announced financial results for the second quarter of fiscal year 2008, ended December 31, 2007.

Providential Holdings reported $645,838 in consulting and advisory fee revenues for the second quarter, up from the $83,500 reported in the same quarter last year. The increase was primarily due to receipt of equity ownership in a client company in return for consulting services provided.

Net income for the second quarter was $227,950 or $0.00 per diluted share, which includes an interest expense of $88,126, as compared to a net loss of $333,165 or $0.00 per diluted share in the second quarter of 2007, which included an interest expense of $106,228. As of December 31, 2007, total assets were $11,791,715 and total liabilities were $3,619,534, resulting in a total stockholders' equity of $8,172,181.

For the six months ended December 31, 2007, Providential reported revenues of $674,338 and a net loss of $109,460. This compares to revenues of $120,500 and a net loss of $391,352 for the same six month period the previous year. Net comprehensive income for the six months ended December 31, 2007 was $765,916, which includes an unrealized gain in marketable securities of $875,376, compared to a loss of $5,960,282 for the same six month period the previous year.

Providential Chairman and CEO Henry Fahman said, "Because of the nature of the mergers and acquisitions (M&A) consulting business, revenues and income are difficult to predict for this segment, since they may not be recognized in the same quarter that the deal takes place. However, our goal for this calendar year is to complete more M&A transactions per quarter to smooth out revenue for each reporting period. Moreover, we believe our asset management business and real estate development operations in Vietnam will generate substantial revenues and profitability for the company as we move forward.

"Providential's position as an ideally suited partner for Vietnamese companies seeking to go public remains strong. In January, we conducted two seminars in Vietnam with the Nasdaq Stock Market and the Vietnam Chamber of Commerce and Industry on going public in the United States. The seminars continue to be well attended and interest in listing stateside is high. Our PhiLand Pointe91 project as well as the larger development of the South Hoi An project is proceeding favorably. We have hired a former Wimberly Allison Tong & Goo project designer as our lead architect for PhiLand Pointe91 and construction is expected to begin shortly."

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: 17011 Beach Boulevard, Suite 1230 Huntington Beach, CA 92647 Telephone: 714-843-5455 Fax: 714-843-5452