Provident Financial Holdings Inc. Announces a Quarterly Cash Dividend.

Business Editors

RIVERSIDE, Calif.--(BUSINESS WIRE)--April 28, 2003

Provident Financial Holdings Inc. (Nasdaq:PROV) today announced that the corporation's board of directors declared a quarterly cash dividend of $0.05 per share on the corporation's outstanding shares of common stock.

Shareholders of record at the close of business on May 14, 2003 will be entitled to receive the cash dividend. The cash dividend will be payable on June 6, 2003.

Forward-looking Statement 

Certain matters in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among others, expectations of the business environment in which the corporation operates, projections of future performance, perceived opportunities in the market, potential future credit experience, and statements regarding the corporation's mission and vision. These forward-looking statements are based upon current management expectations, and may, therefore, involve risks and uncertainties. The corporation's actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements due to a wide range of factors including, but not limited to, the general business environment, interest rates, the California real estate market, competitive conditions between banks and non-bank financial services providers, regulatory changes, and other risks detailed in the corporation's reports filed with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the fiscal year ended June 30, 2002. Forward-looking statements are effective only as of the date that they are made and Provident Financial Holdings Inc. assumes no obligation to update this information.