Providential To Be Introduced To European Investment Community.Business Editors FOUNTAIN VALLEY Fountain Valley, city (1990 pop. 53,691), Orange co., S Calif.; inc. 1957. Chiefly residential, Fountain Valley also has diverse manufactures, including apparel, computer equipment, semiconductors, and medical equipment. A U.S. navy helicopter facility is there. , Calif.--(BUSINESS WIRE)--June 27, 2003 Providential prov·i·den·tial adj. 1. Of or resulting from divine providence. 2. Happening as if through divine intervention; opportune. See Synonyms at happy. Holdings, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : PRVH)(Berlin: PR7, WKN WKN Wertpapier-Kenn-Nummer (identifying number assigned to securities traded in Germany) WKN Warrior Knowledge Network (US Army) 935160)(www.phiglobal.com) today announced that the company will conduct an intensive European advertising and awareness campaign in the German-speaking region. This is largely in response to broad interest in the mobile entertainment systems and information technology market displayed throughout Europe. The Europeans are taking the lead in a market that has shown a vivid foundation for unprecedented growth and profits over the next 5-10 years. "Through our listing at the Berlin Stock Exchange, the European investment community will have much lower transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). and easier trading conditions for our stocks than they would have otherwise," said Henry Fahman, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Providential. "European shareholders have long term value in mind as the basis of their investing principles since German investors benefit from strong tax incentives such as zero tax rate for capital gains after a holding period of 12 months. We now want to take the opportunity to expand our shareholder basis in Europe as well." Providential Holdings has recently announced that the Company expects to post substantial profitable operating results for the quarter ending June 30, 2003 and intends to speed up its investment efforts in the newly-approved Open Economic Zone of Chu Lai Chu Lai () was a United States Navy base in Dung Quat Bay, Vietnam, which was used from 1964 - 1971 during the Vietnam War. The base was roughly 56 miles southeast of Danang. , Vietnam. "With our anticipated continued revenue growth and profitable results in the coming quarters through M&A activities, mobile entertainment products, Provimex division and other initiatives, Providential is poised for growth. The new opportunities in Vietnam will further speed up our growth prospects. With an investor awareness program in Europe, we will be able to tap into the opportunities of a changing global capital environment and boost our status as a truly global player," Fahman continued. About Providential: Providential Holdings, Inc., a diversified service and manufacturing company, focuses on selective technologies, financial services, international markets and special situations. Products and services include mobile entertainment systems, information technology, identification technology, telecommunications, and computer hardware and software. The Company also engages in trade commerce and mergers and acquisitions, especially in the U.S. and emerging overseas markets with high potential for growth. URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.phiglobal.com Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. : Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital, and effectively compete against similar companies. |
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