SOURCE: Providential Holdings, Inc.

Providential Holdings, Inc.

April 15, 2009 08:30 ET

Providential Holdings Forms Singapore-Based Philand Ranch Ltd as Holding Company for Real Estate Development in Southeast Asia

LOS ANGELES, CA and SINGAPORE--(Marketwire - April 15, 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 incorporated Philand Ranch Ltd, a Singapore public company limited by shares, as the holding company for Providential Holdings' real estate development activities in Southeast Asia.

Philand Ranch Ltd recently entered into a corporate combination agreement to acquire all the issued and outstanding shares of common stock of Philand Corporation, a Nevada corporation and majority-owned subsidiary of Providential Holdings, in exchange for the same number of ordinary shares in Philand Ranch Ltd As such, Philand Ranch becomes the parent of Philand Vietnam, Ltd, a Vietnam-based company currently focused on the development of the Pointe91 luxury resort and premium residential community in Chu Lai, central Vietnam. Philand Ranch has also reached principle agreements with other development partners for additional projects in Vietnam and Cambodia.

For additional information about Philand Ranch, please visit: www.philandranch.com.

About Providential Holdings

Providential Holdings focuses on M&A and consulting services, real estate development, mining and investing in special situations. The Company assists companies to go public and raise capital, develops "Pointe 91," a luxury resort and premium residential community in Chu Lai, central Vietnam, (www.philandranch.com), and engages in mining in Southeast Asia (www.phimining.com). The Company's main web site address is www.phiglobal.com.

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