LOS ANGELES, CA and HO CHI MINH CITY, VIETNAM -- (MARKET WIRE) -- November 14, 2006 -- Providential Holdings, Inc. (OTCBB: PRVHE) (German Stock Exchanges: PR7, WKN 935160), a provider of international advisory services specializing in mergers and acquisitions, reported its year-end earnings today. The company expects that its "E" designation will be removed shortly after it files its 10-KSB.

The company reported revenues of $4,119,009 from consulting and advisory services for the year ended June 30, 2006, compared to $4,242,303 for the year ended June 30, 2005, a 3% decrease. This decrease is mainly due to a slight decrease in the size and scope of the merger and acquisition activities. The company reported no sales for the fiscal year ended June 30, 2006, compared to $37,049 for the fiscal year ended June 30, 2005. The decrease in sales reflected the diminished activities of Provimex, a majority-owned subsidiary of Providential Holdings.

Providential reported income from operations of $1,279,850 in FY '06, compared to a loss from operations of $3,268,147 in FY '05. This increase was mainly due to a 62% decrease in operating expenses during the current fiscal year. Total operating expenses were $2,839,159 in FY '06, compared to $7,517,916 in FY '05. This was primarily due to the decrease in the impairment of assets and professional services, including non-cash compensation during the current fiscal year.

The company had net income of $991,513 for the year ended June 30, 2006 as compared to a net loss of $2,119,904 for the year ended June 30, 2005. Fiscal year ended June 30, 2005 included a net loss of $393,997 on discontinued operations as well as a gain on the disposal of a subsidiary of $1,955,579 that are not present in fiscal year ended 2006. The net income based on the basic and diluted weighted average number of common shares outstanding for the year ended June 30, 2006 was $0.01 as compared to that of ($0.02) for the year ended June 30, 2005.

Providential Chairman and CEO Henry Fahman said, "Providential has returned to profitability for FY 2006 and expects operating results to continue improving for FY 2007. For the next 12 months, we intend to emphasize on M&A advisory services for small and mid-sized companies in the U.S. and the Pacific Rim, to help Vietnamese companies with their listing and raising capital through the U.S. stock markets, to develop the joint ventures in the cement, hydropower and mining businesses with Cavico Vietnam, to pursue oil and gas transactions through our upcoming European division, and to engage in alternative energy such as bio-diesel and fuel cells."

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 independent energy. The company acquires and consolidates special opportunities in selective high-growth industries to create additional value, acts as an incubator for emerging companies and technologies, and provides financial consultancy and M&A advisory services to U.S. and foreign companies. For more information on Providential Holdings and its subsidiaries, 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 a leading U.S. investment-banking firm 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/prvhprofile.aspx.

For investor relations questions regarding Providential, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com, or visit http://www.americanmicrocaps.com or http://www.hawkassociates.com.

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. Frank N. Hawkins, Jr. or Julie Marshall Phone: (305) 451-1888 Email: Email Contact