Providential Holdings Appoints CB Richard Ellis to Market PhiLand Pointe91 South Hoi An Development

LOS ANGELES, CA and HANOI, VIETNAM--(Marketwire - April 1, 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 subsidiary PhiLand Corporation has engaged CB Richard Ellis Vietnam Co. Ltd. (CBRE), a wholly-owned subsidiary of CB Richard Ellis Group, Inc. (CBG), as its agent to market and sell residential units in the Pointe91 project. The gated seaside community, located in Chu Lai, will feature a luxury boutique hotel, private residences, marinas and a country club on approximately 250 acres.

Quang Nam has seen many developments within the last 5 years spring up along its northern coast, as the Heritage coast which runs from Hoi An to Danang is dominated by sandy beaches. Nearly 40 new developments are planned for the Heritage coast. Pointe91, located on the southern coast of Quang Nam Province, is atypical in its offerings with majestic bluffs and scenic cliffs which provide an enchanting backdrop for the planned development as well as magnificent views of the sand, surf and surroundings.

PhiLand Director, Daniel St. John, said, "We are pleased to engage CBRE as our agency to market and sell the private residences of Pointe91. CBRE will advise us regarding pricing and will undertake negotiations with perspective buyers on our behalf. As a market leader in real estate services, CBRE will be instrumental for the success of Pointe91."

Marc Townsend, Managing Director of CBRE, said, "The Pointe91 project is an exciting new venture in Vietnam that enjoys a pristine location and promises to become a prestigious development in South Hoi An. The Vietnamese real estate market is experiencing a period of unmet demand and rising asset prices, driven by the recent real estate frenzy as investors seek stable and predictable returns for their investment. In addition, prices and demand have increased as foreigners pour investments into Vietnam as well as other developing markets. We are very excited to begin work with PhiLand Pointe91."

About CB Richard Ellis Vietnam

CB Richard Ellis Vietnam Co. Ltd., part of the worldwide real estate market leader CB Richard Ellis Group, was established in 2003 in Vietnam, and has since become a leading property service provider in Vietnam offering strategic advice and execution for property sales and leasing; industrial and logistics; corporate services; property, facilities and project management; appraisal and valuation; development services; investment management; and research and consulting services. With over 150 property professionals, the company has representatives in Ho Chi Minh City, Hanoi, Hai Phong, Danang, Vung Tau, Nha Trang and beyond.

CB Richard Ellis Group, Inc. (CBG), an S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2007 revenue). With over 29,000 employees, the company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate offices). CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. In 2007, CB Richard Ellis was named one of the 50 "best in class" companies by BusinessWeek, and one of the 100 fastest growing companies by Fortune. For more information about CB Richard Ellis (Vietnam) Co., Ltd., please visit http://cbrevietnam.com or http://www.cbre.com.

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, visit http://www.philandcorp.com.

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 and investing in the rapidly growing economies of Vietnam and Asia. 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. For more information on Providential Holdings, visit http://www.phiglobal.com.

A profile for investors can be accessed at http://www.hawkassociates.com/profile/prvh.cfm.

For investor relations questions regarding Providential, contact Frank Hawkins or Antonella Montagna, Hawk Associates, at 305-451-1888, e-mail: providential@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/about/alert.

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