Providential's Subsidiary, IndoChina Mining Corp., Signs Agreement to Create Joint Venture and Acquire Stake in Mining

LOS ANGELES, CA and HO CHI MINH CITY, VIETNAM, Apr 17
(MARKET WIRE) --
Providential Holdings, Inc. (OTCBB: PRVH), a company providing advisory, merger
and
acquisition services as well as independently investing in Vietnamese economic
opportunities, today announced that its wholly owned subsidiary, IndoChina
Mining
Corp. (IMC), has entered an agreement with Phu Yen Mineral Joint Stock Company
(Pymico) to create a joint venture in a diatomite mine in Phu Yen Province.
According to this agreement, IMC will own 49% of the joint venture, Indochina
Mining Joint Venture, and acquire 30% of Pymico.

Indochina Mining Joint Venture will mine diatomite, or diatomaceous earth
(DE),
a material having a wide array of applications such as: industrial, filtration,
abrasion, absorption, pest control, thermal, hydroponics, and DNA
purification. Pymico has estimated that the mine holds mineralized material of
approximately 2 million tons.

President and CEO of Pymico, Sinh Van Luong, said, "Our joint venture with
IndoChina Mining Corp. will increase the company's technological capabilities
and
enable us to mine DE more effectively. New uses are currently being explored
for this mineral and the demand for it will increase. IMC's acquisition of a
stake in Pymico will solidify our long-term relationship as we work together
on this project and others in the near future."

Tai Vo, director of IndoChina Mining Corp., said, "This agreement represents
our
first acquisition of an important stake in a non-metal mining company in
Southeast
Asia. It is also just the beginning of our mining activities, and we believe
Pymico is an ideal partner. DE is a natural resource that can be used in
many different applications. We estimate that, at a current price of
approximately $700 a ton of DE, this mine has the potential to be very
lucrative. This is a great opportunity for emerging growth and we plan to
continue
looking for different venues for mining materials in Southeast Asia."

About IndoChina Mining Corp.

IndoChina Mining Corp., a wholly owned subsidiary of Providential Holdings
(PHI),
plans to take majority and minority stakes in precious and non-metal mines in
Southeast Asia. Headquartered in Vietnam, the company's strategy includes
establishing joint ventures to explore and mine for metals in Vietnam, Laos
and Cambodia.

About Phu Yen Mineral Joint Stock Company

Phu Yen Mineral Joint Company is headquartered in Phu Yen District in
Vietnam and has been operating since 1991. The company mines fluorite, ilmenite
and
diatomite, and uses them to produce construction brick, construction stone,
additive cement (Puzoland) and aquaculture products. For more information, visit
http://pymico.com.vn

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 investing
in
the rapidly growing economies of Vietnam and Asia. 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
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
aresubject to certain risks and uncertainties that may cause actual results
todiffer materially from those projected on the basis of such
forward-lookingstatements. 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.

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

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