Contact Information: Contact: Frank Hawkins or Antonella Montagna Hawk Associates 305-451-1888 e-mail: http://www.americanmicrocaps.com http://www.hawkassociates.com
Providential Subsidiary PHILAND Breaks Ground on Pointe91 Project
| Source: Providential Holdings, Inc.
LOS ANGELES, CA and HANOI, VIETNAM--(Marketwire - August 26, 2008) - Providential Holdings, Inc. (OTCBB : PRVH ), which provides advisory, merger and acquisition services as well as
independently investing in Vietnamese opportunities, today announced that
its subsidiary PHILAND has broken ground on Phase One of the Pointe91
project in Quang Nam, Vietnam. Phase One work includes clearing
approximately 20 acres of land as well as grading and excavation for the
construction of the lake, entry guardhouse, and a sales office.
Pointe91 will showcase Quang Nam's otherworldly beauty and vibrant culture
as a backdrop for a seaside community fusing modern décor and timeless
French Colonial design. Pointe91 is a premier 118-acre development that
includes luxury private residences, a beachfront resort, a marina, a
marketplace and extensive landscaping. Photographs of the groundbreaking
and site plan are available at
http://hawkassociates.com/clients/additional/index.cfm?client_id=13.
PHILAND project director Daniel St. John said, "We are thrilled to begin
work on Pointe91 after awarding contracts for the grading, irrigation,
landscaping, construction of roadways, pools, and fountains needed to
complete Phase One of construction. Upon completion, the guardhouse, the
violin-shaped lake that anchors the property, a sales office and an
interior design center where buyers will be able to choose interiors for
their home, will be finished. This infrastructure, aside from formally
kicking off construction of Pointe91, will give us an on-the-ground
location from which we can show the property and entertain prospective
buyers."
About Pointe91
Pointe91 is slated to be a seaside residential and resort community located
in Quang Nam province, Vietnam offering luxury residences, a marina, a
beachfront hotel and spa, and other amenities. CBRE Vietnam markets the
residences. Please visit http://www.philandcorp.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. For
more information on Providential Holdings, visit http://www.phiglobal.com.
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.
A profile for investors can be accessed at
http://www.hawkassociates.com/profile/prvh.cfm.
For investor relations questions, contact Frank Hawkins or Antonella
Montagna, Hawk Associates, at 305-451-1888, e-mail:
providential.holdings@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.