Contact Information: Investor Relations Contact: Hawk Associates, Inc. Antonella Montagna and Frank Hawkins Phone: 305-451-1888 E-mail:
Providential Holdings Signs Real Estate Co-Development Agreement
| Source: Providential Holdings, Inc.
LOS ANGELES, CA and HANOI, VIETNAM--(Marketwire - May 27, 2008) - Providential Holdings,
Inc. (OTCBB : PRVH ), which operates in merger and acquisitions consultancy,
financial services, independent energy and resources, real estate
development and invests in unique opportunities, has signed an agreement
with DCH-NQH Holdings to co-develop real estate in Quang Nam Province,
Vietnam.
Under the terms of the agreement, DCH-NQH will provide resources to
co-develop real estate projects with Providential, including the
introduction of third parties interested in working or investing in these.
DCH-NQH will receive a 10% stake in each phase of the project for which it
provides these resources.
Providential has negotiated with Quang Nam Province to develop 3,650
hectares or approximately 9015 acres that includes portions of the Chu Lai
Open Economic Zone and South Hoi An, where Providential's seaside
residential community, Pointe91, is slated to begin construction later this
year. The company plans to develop the remainder of the area in the near
future.
DCH-NQH's Managing Partner, Allen Wu, said, "We are excited about this
strategic partnership. We look forward to having a long and mutually
beneficial partnership with Providential."
About DCH-NQH Holdings, LLC
DCH-NQH Holdings LLC, a joint venture between DC Holdings Pte. Ltd. of
Singapore (DCH) and NQH Architects of Vietnam (NQH), provides master
planning, architecture, branding, construction, financing and sales and
marketing services to real estate projects in the former Indochina area.
The company is primarily focused on Vietnam. For information on DCH-NQH,
please write: info@dch-nqh.com. For information on NQH, visit
www.nqh-architects.com.
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 leading U.S. investment banking firms, 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 is available at: http://www.hawkassociates.com/profile/prvh.cfm.
For investor relations, contact Antonella Montagna, Hawk Associates, at
305-451-1888, e-mail: Providential.Holdings@hawkassociates.com or
http://www.hawkassociates.com. For free e-mail alerts, 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.