Providential Holdings Engages Cohen Independent Research Group to Provide Independent Research Analyst Coverage

LOS ANGELES, CA and FRANKFURT, GERMANY--(Marketwire - January 22, 2009) - Providential Holdings, Inc. (OTCBB: PRVH) (FRANKFURT: PR7) (WKN 935160), a company engaged in mergers and acquisitions, real estate development, mining, and investing in special situations, today announced that the Company has engaged Cohen Independent Research Group to provide independent research analyst coverage for the company and its subsidiaries including PHI Mining Group (PINKSHEETS: PHIG) and Philand Corporation (www.philandranch.com).

Cohen Independent Research Group is Wall Street's # 1 fundamental independent research firm. D. Paul Cohen founded the West Coast Regional Offices of Bear Stearns and Co., was head of the West Coast Institutional offices of CBWL Hayden Stone American Express and was named as one of the Dirty Dozen analysts, considered by many to be nation's top 12 securities analysts. Cohen's average 149-page initiate coverage reports are delivered in a Short Report, Medium Report and Full Report. The firm has lifted the art of fundamental securities research to a standard that Wall Street has never seen. Cohen's web site address: http://www.cohenresearch.com/.

D. Paul Cohen, President of Cohen Independent Research Group, stated: "Providential has contracted with us to produce our Gold Standard level research report which will be an analysis in excess of 100+ pages. We will forecast the three statements, and value the business for 5 years in three cases -- Base, Optimistic and Pessimistic Cases -- creating target prices which we believe should be significantly higher than today's share prices. We are most impressed with Providential's management team and their business plan. This is an exciting engagement for our firm."

Henry Fahman, Chairman and CEO of Providential Holdings, Inc., commented: "We are very excited to work with Paul Cohen and his expert team and hope to better communicate the potential value of Providential to our shareholders and investors through unbiased independent research analyst coverage. Cohen regularly uses teams of analysts to cover a given company and has provided its elite team to our firm, which includes the equivalent of a CPA, level III CFA and others assigned to our project."

About Providential Holdings

Providential Holdings and its subsidiaries engage in a number of diverse business activities, the most important of which are M&A and consulting services, real estate development, mining and investing in special situations. The Company assists U.S. and international companies to go public and raise capital through the U.S. and European stock markets, develops "Pointe 91," a luxury resort and upscale residential community in Chu Lai, central Vietnam, through its subsidiary Philand Corporation (www.philandranch.com), and engages in mining in Southeast Asia through its majority-owned subsidiary PHI Mining Group, Inc. (www.phimining.com). The Company's main web site address is www.phiglobal.com.

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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: Contact: Henry Fahman Tel: 714-843-5455 Email: