Contact Information: Investor Relations Contact: Hawk Associates, Inc. Frank Hawkins or Julie Marshall Phone: (305) 451-1888 E-mail: Email Contact
Providential Holdings Terminates Agreements With Baby G and Horsepower & Chrome
| Source: Providential Holdings, Inc.
LOS ANGELES, CA and HO CHI MINH CITY, VIETNAM -- (MARKET WIRE) -- May 2, 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 it has terminated previous agreements to take
California-based Horsepower & Chrome, LLC. and New York-based Baby G, Inc.
public in the United States.
Providential Holdings Chairman and CEO Henry Fahman said, "In light of
recent developments with Horsepower & Chrome and Baby G, Inc., both
companies and Providential have decided to terminate our previously
announced consulting agreements; however, Providential will continue to
focus on assisting emerging companies, particularly in Vietnam and other
Asian countries, as they go public in the U.S."
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 investments in the rapidly growing economies in Vietnam and Asia. 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.
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. To receive free e-mail notification of
future press releases for Providential, sign up at
http://www.hawkassociates.com/email.aspx.
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.