Providential Holdings Forms Human Capital Consulting Firm to Focus on Vietnamese Companies

LOS ANGELES, CA and HANOI, VIETNAM--(Marketwire - August 8, 2008) - Providential Holdings, Inc. (OTCBB: PRVH), a company providing advisory, merger and acquisition services as well as independently investing in Vietnamese economic opportunities, has formed HRciti Corp. (www.hrciti.com), a majority-owned subsidiary that specializes in human capital development, executive education and customizing training solutions for Vietnamese companies.

Martin Doan, Ph.D., has been appointed as chief executive officer of HRciti. The company has also recruited Rick Cardin, Ph.D., a specialist in finance and franchising from Harvard University, to serve as Chief Operating Officer of the Vietnam operations and Bill Davidson, Ph.D., also a Harvard graduate and a world-renowned executive coach to serve on the board of directors.

Benjamin Tran, co-founder of the firm, said, "HRciti will be priced competitively with other brand-name consultants and will offer prestigious executive education to high profile individuals. We have already secured a large pipeline of clients that have immediate organizational development needs and visionary executives who are aiming to increase their companies' global competitiveness with our customized in-house training programs. We seek to build and develop sophisticated, insightful business leaders that will transform organizations and industries."

Doan said, "Our mission is to set a new standard for Vietnamese companies by offering top notch consulting services and a cutting edge training curriculum in human capital development and management. Our training will prepare Vietnamese executives for the competition they now face after Vietnam's entry to the World Trade Organization (WTO). To achieve this goal, we will provide proactive executive education, superlative executive coaching and unmatched finance and operations E-learning tools. In addition, our HR consulting services provide practical evidence-based solutions and organizational empowerment for managers to successfully attract and retain talent."

About HRciti Corporation

HRciti Corporation is a Vietnam-focused consulting company with headquarters in Huntington Beach, California and operating in Vietnam. Our mission is to empower Vietnamese companies to enter the global market in the post-WTO era via world-class executive training and human capital advisory services to maximize results for our clients. Our services include executive education including executive coaching, international leadership, capital development, project managements, finance and operations. Web site: www.hrciti.com.

About Providential Holdings, Inc.

Providential Holdings and its subsidiaries engage in a number of diverse business activities, providing advisory, merger and acquisition services as well as independently investing in Vietnamese economic opportunities. As part of its activities in Vietnam, Providential has been hosting seminars in conjunction with the Nasdaq Stock Market, the Vietnam 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. For more information on Providential Holdings, visit http://www.phiglobal.com.

A profile for investors can be accessed at http://www.hawkassociates.com/profile/prvh.cfm.

For investor relations questions regarding Providential, contact Antonella Montagna or Frank Hawkins, 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.

Contact Information: Investor Relations Contact: Hawk Associates, Inc. Antonella Montagna and Frank Hawkins Phone: 305-451-1888 Email: