SOURCE: Providential Holdings, Inc.

June 19, 2008 11:30 ET

Providential Holdings Launches Open Market Share Buy Back Program

Initial Shares Were Repurchased at Market Price Earlier This Week

LOS ANGELES, CA and HANOI, VIETNAM--(Marketwire - June 19, 2008) - Providential Holdings, Inc. (OTCBB: PRVH), which operates in merger and acquisitions consultancy, financial services, energy and resources, real estate development and invests in special opportunities, announced that it initiated a share buy back program, in which the company had purchased 100,000 shares in the open market yesterday, and will continue to do so from time to time.

Providential Holdings' CEO Henry Fahman said, "Providential Holdings has a strong future and we feel confident about its potential for revenue and earnings growth. Initiating the stock buy back program has allowed us to take advantage of our stock's attractive price point. We feel that the current stock price does neither reflect our company's potential nor our stock's long-term investment value."

Fahman continued, "Our pipeline of deals is steady and growing, we continue to capture the interest of Vietnamese enterprises that wish to go public, and our investments in real estate in that country have proven to be smart value-based decisions as confirmed by the growing interest in that field. Despite recent inflationary and trade balance pressures, Vietnam's economy continues to make headlines due to its growth prospects going forward, and foreign interest there is at an all-time high. With 60% of Vietnam's population under the age of 25 and a favorable long-term secular trend, Vietnam offers tremendous opportunities for investors. For these and other reasons, we strongly feel that Providential's potential is not being accurately perceived by the market at this time."

About Providential Holdings, Inc.

Providential Holdings and its subsidiaries engage in a number of diverse business activities, the most important of which are merger and acquisitions 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 leading U.S. investment banking firms 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 is available at: http://www.hawkassociates.com/profile/prvh.cfm.

For investor relations, contact Antonella Montagna, Hawk Associates, at 305-451-1888, e-mail: Providential.Holdings@hawkassociates.com or http://www.hawkassociates.com. For free e-mail alerts, 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