SOURCE: Provision Interactive

May 08, 2008 08:45 ET

Provision Interactive Wins Default Judgments Totaling More Than $3.5 Million

The Superior Court of California Rules in Provision's Favor in Two Separate Suits

CHATSWORTH, CA--(Marketwire - May 8, 2008) - Provision Interactive Technologies, Inc., a subsidiary of Provision Holding, Inc. (OTCBB: PVHO), announced today that it has won two separate default judgments filed in the Superior Court of California that total more than $3.5 million.

In order to protect its legal rights and in the best interest of the shareholders at large, Provision filed a complaint alleging breach of contract, rescission, tortious interference and fraud with a customer on August 26, 2004. Effective November 30, 2007, the Superior Court of California entered a default judgment against the customer. The final judgment in the amount of $3,337,000 was entered by the court on January 2, 2008.

In a second and separate complaint, Provision filed suit against one of its distributors for breach of contract, breach of covenant of good faith and fair dealing, intentional misrepresentation and coercion. On January 14, 2008, the Superior Court of California entered a default judgment in favor of Provision in the amount of $226,222.

"Provision has exercised its fiduciary responsibility to its shareholders by pursuing these critical claims," said Curt Thornton, President and CEO of Provision Interactive. "We are very pleased that these two issues have been resolved in our favor and we remain focused on the future."

Provision will pursue all legal means to collect the judgments; however, it remains uncertain as to what portion of the judgments, if any, will ultimately prove collectible. Accordingly, Provision has not recorded any gain contingency as Provision can give no assurances whether it will be able to collect any award from the defendants.

About Provision Interactive Technologies, Inc.

Provision Interactive Technologies, Inc., a subsidiary of the publicly traded company Provision Holding, Inc. (OTCBB: PVHO), is the leading purveyor of intelligent interactive 3D holographic display technologies, software, and integrated solutions for both commercial and consumer focused applications. Provision's 3D holographic display systems represent a revolutionary technology that provides the projection of full color, high resolution videos into space detached from the screen, without any special glasses. Provision is currently the market leader in true 3D consumer advertising display products being implemented by innovative, consumer-focused Fortune 1000 companies. For more information, please visit Provision at www.provision.tv.

Forward-Looking Statements

This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; changes in the nature of telecommunications regulation in the United States and other countries; the ability to develop customers and market expertise; changes in business strategy; the successful integration of newly acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission. We disclaim and do not undertake any obligation to update or revise any forward-looking statements.

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