SOURCE: Providential Holdings, Inc.

November 28, 2005 11:30 ET

Providential Holdings to Buy Back up to 20% of Its Common Stock From the Open Market

LOS ANGELES, CA -- (MARKET WIRE) -- November 28, 2005 -- Providential Holdings, Inc. (OTC BB: PRVHE) (Berlin and Frankfurt Stock Exchanges:PR7 - WKN 935160) (www.phiglobal.com), a provider of international advisory services specializing in mergers and acquisitions, today announced that the Company will buy back up to 20% of its own common stock.

The Company's Board of Directors have unanimously passed a resolution to authorize the purchase of up to 20% of its own common stock from the open market in the next twelve months depending on price levels and the Company's liquidity from time to time.

Henry Fahman, Chairman and CEO of Providential Holdings, commented: "As we continue to focus on M&A activities and take advantage of new opportunities, we believe it is prudent to buy back our own shares from the open market to increase our shareholder value if market price levels and liquidity warrant such an action."

About Providential Holdings, Inc.

Providential Holdings specializes in mergers and acquisitions and invests in various industries. The Company acquires and consolidates special opportunities 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.

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

  • Providential Holdings, Inc.
    Timothy Pham
    714-843-5456
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