Providential Holdings Announces Agreement to Take VIP Network Holdings, Inc. Public in the U.S. Capital Markets
LOS ANGELES, CA--(Marketwire - September 25, 2007) - Providential Holdings, Inc. (OTCBB: PRVH)
(German Stock Exchanges: PR7, WKN 935160), a company engaged in various
business activities including mergers and acquisitions, consulting and
advisory services, fund management and investment in special situations,
announced today its wholly owned subsidiary Providential Capital, Inc.
signed an agreement to help California-based VIP Network Holdings, Inc. go
public in United States capital markets through a business combination. In
exchange for its services, which include arranging financing for VIP
Network Holdings, Providential will receive shares of stock from the new
VIP Network Holdings and its wholly owned subsidiaries operate telecom
business ventures with state-of-the-art telecommunication technologies in
Vietnam. The company's vision is to become a one-stop shop for "triple
play" services: voice, data and video. The company plans to expand its
businesses into advertising and entertainment, specifically the diverse and
affluent American-Asian market, to tap into the tremendous buying power of
the fastest growing segment of the population in America. The company also
provides technical, marketing and operations expertise to incubating firms
interested in investing, joint venturing, or marketing in Vietnam, and to
Vietnamese firms interested in investing or marketing in U.S.
VIP Network Holdings Chairman and CEO Paul Phong Le said, "We are confident
that Providential's consulting services will help to increase awareness in
the U.S. capital markets and make the transition from a private to public
company seamless. Our company has been building a reputation within the
Asian market as a telecom provider and is poised and ready to move on to
the next level. We are excited to have Providential as our partner to
create value for our shareholders."
Providential Capital Managing Director Benjamin Tran said, "We are
particularly pleased to be working with VIP Network Holdings, which we
believe has a business model that will significantly benefit from the rapid
growth of the Asian market both in the U.S. and abroad. The access to
capital funding will provide VIP with the means to grow the company and at
the same time offer investors an excellent opportunity to participate in a
rapidly growing industry."
About VIP Network Holdings, Inc.
VIP Network Holdings, Inc. is a facilities-based, leading provider of
wholesale and retail telecommunication services for consumer and business
markets. Vietnam84 is its flagship enterprise providing long distance
services at the lowest prices. VIP Network Holdings has several
VIP Advertising and Media is a subsidiary focusing and targeting specific
Asian ethnic culture, especially the Vietnamese community. VIP Advertising
is the first ethnic online advertising enterprise targeting ethnic
concentration by distributing advertising content across multiple media
VIP Global Investment is another subsidiary that has a network connection
with an array of industries including, manufacturing, biotechnology,
entertainment, special business services, consumer products, healthcare,
education, information technology and telecommunications. The company's
expertise resides in cross-cultural investing and managing strategic
investment activity for incubating early-stage private companies. VIP
Global provides start-up companies strategic guidance and operational
support in the areas of technology, sales and marketing, business
development and financing.
For more information about VIP Network Holdings, Inc., visit
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.
A profile for investors can be accessed at
For investor relations questions regarding Providential, contact Frank
Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail:
firstname.lastname@example.org, 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/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.
Contact Information: Investor Relations Contact:
Hawk Associates, Inc.
Ken AuYeung and Frank Hawkins
Phone: (305) 451-1888
17011 Beach Boulevard, Suite 1230
Huntington Beach, CA 92647
Telephone: (714) 843-5455
Fax: (714) 843-5455