Providential Holdings Subsidiary Touchlink Communications Signs Agreement With East Media Holdings to Enter Multimedia Business

LOS ANGELES, CA and HA NOI, VIETNAM--(Marketwire - October 31, 2008) - Providential Holdings, Inc. (OTCBB: PRVH) (FRANKFURT: PR7) (WKN 935160), a company engaged in mergers and acquisitions, consulting and advisory services, real estate development in Vietnam, mining and investing in special situations, today announced that Touchlink Communications, Inc., a majority-owned subsidiary of the Company, has signed an agreement with East Media Holdings, Inc. (EMHI), a Nevada corporation, to engage in multimedia business, including television and radio broadcasting, online and print media.

East Media Holdings, Inc. (EMHI) (www.emhi.net) is a multi-lingual, multi- cultural and multi-national consumer driven company with focus on Indochina, bridging East and West with entertainment as main focus. EMHI capitalizes on the explosive growth of media throughout the ASEAN region and bridges the gap between East and West by importing high quality contents to the ASEAN region while simultaneously assisting in the development and distribution of ASEAN generated content to other parts of the world.

According to the agreement, EMHI will own 49% of Touchlink Communications. Touchlink will change its name and complete the financial audits to become a fully reporting company on the OTCBB in the near future.

About Providential Holdings

Providential Holdings and its subsidiaries engage in a number of diverse business activities, the most important of which are M&A and consulting services, real estate development, mining and investing in special situations. As part of its activities in Vietnam, Providential has been hosting seminars in conjunction with the Nasdaq Stock Market to help Vietnamese companies go public and raise capital through the U.S. financial markets. The Company currently develops "Pointe 91", an upscale residential community and luxury resort in Chu Lai, central Vietnam. For more information, visit http://www.phiglobal.com

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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: Contact: Henry Fahman Chairman & CEO Providential Holdings, Inc. Tel: 714-843-5450 Email: