Providential Holdings Forms Vietnam-Based Mergers and Acquisitions Advisory Services Subsidiary

LOS ANGELES, CA and HANOI, VIETNAM--(Marketwire - April 3, 2008) - Providential Holdings, Inc. (OTCBB: PRVH), a company providing advisory, merger and acquisition services as well as independently investing in Vietnamese economic opportunities, has formed Providential Vietnam, Ltd., a wholly-owned subsidiary that will provide merger, acquisition and funding advisory services to Vietnamese companies. Providential Vietnam will also help Vietnamese companies to become publicly traded in the U.S. and international markets.

Henry Fahman, CEO of Providential Holdings, said, "The formation of Providential Vietnam points to Providential's growing Vietnamese client base. Interest in publicly listing abroad and obtaining financial support in foreign markets continues to grow in Vietnam, and Providential is taking active steps to fully exploit this demand. Providential Vietnam will work closely with other Providential subsidiaries, including ProAm, our recently-formed subsidiary that provides asset-management and restructuring services, to maximize our efforts in supporting Vietnamese companies."

Providential Vietnam, headquartered at 6 Thai Van Lung St., 11 Floor in Ho Chi Minh City, will be led by Tai Van Vo, a former co-manager of Providential's Saigon A-2 Fund. Vo has served as CEO of Vietnam-based Thanh Viet Investment Fund Management Corporation, which currently has more than $100 million under management. Previously, he was a managing member of Peregrine Capital Vietnam, a subsidiary of Peregrine Capital Hong Kong Ltd. Prior to that, he was director of Dragon Capital Group's investment arm, Vietnam's largest asset management company.

Tai Vo, President of Providential Vietnam, said, "The formation of Providential Vietnam will further increase Providential's accessibility to Vietnamese companies and ensure a steady pipeline of business for us. Since we will focus exclusively on Vietnamese clients, our proximity to them will help us to service them more appropriately."

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 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 a leading U.S. investment banking firm, 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 for investors can be accessed at http://www.hawkassociates.com/profile/prvh.cfm.

For investor relations questions regarding Providential, contact Frank Hawkins or Antonella Montagna, Hawk Associates, at 305-451-1888, e-mail: providential@hawkassociates.com, or visit http://www.americanmicrocaps.com or http://www.hawkassociates.com. To sign up for free e-mail notification of future releases, 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: