SOURCE: Providential Holdings, Inc.

May 02, 2007 14:01 ET

Providential Holdings Terminates Agreements With Baby G and Horsepower & Chrome

LOS ANGELES, CA and HO CHI MINH CITY, VIETNAM -- (MARKET WIRE) -- May 2, 2007 -- Providential Holdings, Inc. (OTCBB: PRVH) (German Stock Exchanges: PR7, WKN 935160), a company investing in the rapidly growing economies in Vietnam and Asia, announced today it has terminated previous agreements to take California-based Horsepower & Chrome, LLC. and New York-based Baby G, Inc. public in the United States.

Providential Holdings Chairman and CEO Henry Fahman said, "In light of recent developments with Horsepower & Chrome and Baby G, Inc., both companies and Providential have decided to terminate our previously announced consulting agreements; however, Providential will continue to focus on assisting emerging companies, particularly in Vietnam and other Asian countries, as they go public in the U.S."

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 investments in the rapidly growing economies in Vietnam and Asia. For more information on Providential Holdings and its subsidiaries, 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.

For investor relations questions regarding Providential, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com, or visit http://www.americanmicrocaps.com or http://www.hawkassociates.com. To receive free e-mail notification of future press releases for Providential, sign up at http://www.hawkassociates.com/email.aspx.

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.
    Frank Hawkins or Julie Marshall
    Phone: (305) 451-1888
    E-mail: Email Contact