LOS ANGELES, CA and HANOI, VIETNAM -- (MARKET WIRE) -- March 19, 2007 -- Providential Holdings, Inc. (OTCBB: PRVH) (German Stock Exchanges: PR7, WKN 935160), a company investing in the rapidly growing economies in Vietnam and Asia, announced today the formation of Viet Financial Media Corp. (VFMC). The new company will provide a variety of financial, newswire, investor relations and website services to the Vietnamese capital markets.

VFMC is jointly hosting a seminar with the Hanoi Stock Exchange on Monday, March 26, starting at 8 a.m., at the Melia Hotel in Hanoi to announce the new venture. Representatives of leading Vietnamese businesses and publicly traded companies have been invited to attend. Representatives from the Ministry of Finance are expected to attend.

Chairman and CEO Henry Fahman said, "The Vietnamese capital markets are rapidly growing and evolving. We believe we can provide important new financial media services to the two major exchanges in Ho Chi Minh City and Hanoi as well as the broader financial community that will support and strengthen the health and vitality of the Vietnamese capital markets. We are introducing our new company to over 300 Vietnamese business and government leaders who have expressed interest in the expansion and growth of the Vietnamese capital markets."

VFMC is backed by the founding shareholders who have experience and in-depth knowledge of business operations, information technology, Vietnamese and international capital markets, investor relations and public companies. VFMC is jointly owned by Providential Holdings, Cavico Corp., Cavico HiTech, BaoViet Securities and Hawk Associates, Inc.

Austin Dao Nam, CEO of VFMC, said, "We believe we can bring enormous value added to the Vietnamese capital markets. These markets are dynamic and vigorous, but still young. We intend to provide services that will help these markets mature and become more attractive to both domestic and international investors."

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.

About Cavico Corporation

Founded in 2000, Cavico is a major infrastructure construction, infrastructure investment and natural resources conglomerate headquartered in Hanoi, Viet Nam. Cavico is highly respected for its core competency in the construction of mission-critical infrastructure including hydroelectric plants, highways, bridges, tunnels and urban community developments. Cavico's project partners include top multi-national corporations and government organizations. The company employs more than 3,000 people. For more information about Cavico, please refer to the company's website at http://www.cavicocorp.com. A profile for investors can be accessed at http://www.hawkassociates.com/prvhprofile.aspx. A profile for investors can be accessed at http://www.hawkassociates.com/cvcpprofile.aspx.

About BaoViet

BaoViet Securities Company, Vietnam's largest brokerage firm, is a subsidiary of BaoViet Holdings. BaoViet Holdings, established more than 40 years ago, is a leading financial organization in Vietnam, providing life, property and liability insurance, along with other financial services including securities and investments.

About Cavico Hi-Tech

Cavico Hi-Tech is a wholly owned subsidiary of Cavico Corporation that provides website and media services primarily to Cavico.

About Hawk Associates Inc.

Hawk Associates, Inc. is a full-service U.S.-based investor relations and financial media relations consulting firm serving clients throughout the United States as well as in China and Vietnam. Hawk Associates operates the American Microcap Institute website, http://www.americanmicrocaps.com. For more information about Hawk Associates, visit http://www.hawkassociates.com or contact Frank Hawkins or Julie Marshall at (305) 451-1888, e-mail: info@hawkassociates.com.

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 Contact http://www.americanmicrocaps.com http://www.hawkassociates.com