SOURCE: Providential Holdings, Inc.

August 29, 2005 02:30 ET

Providential Holdings Announces a $5 Million Funding From Institutional Investor

LOS ANGELES, CA -- (MARKET WIRE) -- August 29, 2005 -- Providential Holdings, Inc. (OTC BB: PRVH) (Berlin and Frankfurt Stock Exchanges: PR7, WKN 935160), a provider of international advisory services specializing in mergers and acquisitions, announced that the Company has signed a term sheet with an institutional investor for a $5 million funding.

The Company intends to use the proceeds from this financing for closing the acquisition of Tulon Pacific, for funding two other projects and for short-term working capital. The Company believes this is the beginning of a long-term relationship and expects to work closely with this institutional investor and its family of funds to meet other financing needs of the Company's clients, including funding for mergers and acquisitions, recapitalization, and equitization for both U.S. and international companies.

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, industrial tools, and international markets. The Company acquires and consolidates special opportunities in selective high-growth industries to create additional value, acts as an incubator for emerging companies and technologies, and provides financial consultancy and M&A advisory services to U.S. and foreign companies. For more information on Providential Holdings and its subsidiaries, visit http://www.phiglobal.com.

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:
    Providential Holdings, Inc.
    Henry Fahman
    714-843-5450, Ext. 5455
    Email Contact