SOURCE: Providential Holdings, Inc.

November 26, 2008 08:30 ET

Providential Holdings Signs Agreement to Take Ceres Interventional Public in the U.S.

LOS ANGELES, CA--(Marketwire - November 26, 2008) - 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 it had signed an agreement to assist Ceres Interventional, Inc., a Texas company, to go public in the United States through a business combination. In exchange for its consulting services, Providential will receive an equity stake in the new public company.

Ceres Interventional, Inc., originally founded in 2001, focuses on products and medical devices for interventional procedures in the areas of Cardiology (Cath Lab) and Interventional Radiology Special Procedures. The Company is recognized by physicians and hospitals throughout North America as a leading supplier of quality "specialty" devices. Competing in only the specialized devices area, its products which include Endomyocardial Biopsy forceps, Micro Puncture Access Kits, Specialty Guidewires, and .035 PTA balloon dilatation (angioplasty) catheters OTW, are used in approximately 60% of hospitals in the U.S. that have a dedicated heart failure program (pediatric and adult).

Ceres' senior management has in excess of seventy years of experience in medical devices. Since the founding of the company, year over year revenue increases have been significant and continue on a strong upward trend.

Providential will also assist Ceres Interventional to gain access to institutional funding for continued organic growth and imminent strategic acquisitions.

Michael Warner, President and CEO of Ceres Interventional, Inc., stated: "We are delighted to have reached this agreement with Providential Holdings, Inc. This cooperation will assist in Ceres' continued growth, and will help support our pivotal expansion toward selected healthcare areas."

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. As part of its activities in Vietnam, Providential has been hosting seminars in conjunction with the Nasdaq Stock Market to help Vietnamese companies go public and raise capital through the U.S. financial markets. The Company currently develops "Pointe 91," an upscale residential community and luxury resort in Chu Lai, central Vietnam. Web site: 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.

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