SOURCE: Providential Holdings, Inc.

March 27, 2008 09:09 ET

Providential Holdings Appoints California-Based Urban Arena to Design PhiLand Pointe91 Landscape Project and Site Plan

Chosen by Disney to Design "House of Tomorrow," Urban Arena Brings a Wealth of Experience and Creativity to Optimize Pointe91 Value

HANOI, VIETNAM--(Marketwire - March 27, 2008) - Providential Holdings, Inc. (OTCBB: PRVH), a company providing advisory, merger and acquisition services as well as independently investing in Vietnamese economic opportunities, has named Urban Arena, LLC -- designer of Disney's "House of Tomorrow" -- as the architectural design firm for the PhiLand Pointe91 development. Urban Arena, an outdoor and indoor architecture firm, will be responsible for the redesign of the site plan, the architecture and the landscape architectural design of the project.

PhiLand also announced that the Pointe91 project has expanded the development size, initially from 57 acres to potentially 250 acres. The project, located in Chu Lai and considered part of the overall South Hoi An development program involving approximately 8,000 acres, is slated to become a gated seaside community that will feature at least one luxury boutique hotel, private residences and a country club.

Urban Arena Principal, Michael Schrock, with more than 20 years of experience, said, "We are delighted to begin work on Pointe91 and have already begun sketching and developing preliminary site plans for this magical location. The combination of majestic rocky cliffs and curving sandy beach -- really the Carmel and Pebble Beach of Vietnam will make it easy to create a luxurious and calming environment for this unique development."

PhiLand Director, Daniel St. John, said, "We are pleased to welcome Urban Arena to the Pointe91 development. Their background and reputation for outdoor and indoor design and landscaping will be invaluable in creating an atmosphere that takes advantage of Pointe91's pristine location. The increase of the acreage has required a redesign of the site plan to optimize Pointe91 value for both our company and patrons."

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

About Urban Arena

Urban Arena, LLC has three offices throughout California and employs more than 50 highly skilled professionals. The company specializes in indoor and outdoor landscape and site plan design and has completed residential, commercial, government and master planned communities. For more information, please go to http://www.urbanarena.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. 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 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.

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.holdings@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: Email Contact

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