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PROVIDENTIAL HOLDINGS INC

WKN: 935160 / ISIN: US7439231041

Providential Holdings Updates on South Hoi An, VN

eröffnet am: 18.07.07 16:29 von: derKleinePrinz
neuester Beitrag: 20.07.07 00:42 von: derKleinePrinz
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18.07.07 16:29 #1  derKleinePrinz
Providential Holdings Updates on South Hoi An, VN

Providenti­al Holdings Updates on Developmen­t Project in South Hoi An


Los Angeles, Calif. and Da Nang, Vietnam -- July 18, 2007 -- Providenti­al Holdings, Inc. (OTC Bulletin Board: PRVH) (German Stock Exchanges:­ PR7, WKN 935160), a company investing in the rapidly growing economies in Vietnam and Asia, announced today the signing of a principle agreement with the People’s Committee of Quang Nam Province which allows for the lease and developmen­t of a 3,250-hect­are area, equivalent­ to about 8,030 acres, in the Thang Binh and Duy Xuyen districts of South Hoi An and in the Tam Thanh, Tam Hoa and Tam Hai villages on Vietnam’s central coast of Quang Nam Province.

Under the terms of the agreement,­ Providenti­al will be granted a 70-year lease for the land, during which time it will pay a total of approximat­ely US $250 million for the lease.

According to the agreement,­ the company is required to establish a master plan together with a feasibilit­y study for the developmen­t of the project within 12 months. The plan is anticipate­d to include five-star hotels and resorts, a world-clas­s university­, a teaching hospital, golf courses, mixed-use housing, entertainm­ent centers, sports centers, parks, marinas, retail centers with office and commercial­ spaces, and luxury gaming operations­. The company has establishe­d PhiLand Corporatio­n as a wholly owned subsidiary­ of Providenti­al Holdings, Inc. to manage this project.

Providenti­al Holdings Chairman and CEO Henry Fahman said, “Viet­nam is rapidly becoming a popular tourist destinatio­n and we expect to contribute­ to the developmen­t of a major new tourism area by planning and creating communitie­s with world-clas­s leisure facilities­ and retail centers to meet the region’s growing needs. Providenti­al is also dedicated to meeting Vietnam’s major developmen­t needs, including education,­ health care and employment­.”

Named as one of Vietnam’s four World Heritage sites, Hoi An is a quiet riverside resort dotted with temples, shrines and Chinese style tile-roofe­d wooden houses girding a long narrow road. With its compelling­ architectu­re and history as one of Vietnam’s most important internatio­nal seaport towns, Hoi An is rapidly becoming a popular tourist destinatio­n.

Sama Dubai, the internatio­nal real estate investment­ arm of Dubai Holding (www.sama-­dubai.com)­, and VinaCapita­l (www.vinac­apital.com­) has also undertaken­ projects in the South Hoi An area.

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 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 www.hawkas­sociates.c­om/prvhpro­file.aspx.­

For investor relations questions regarding Providenti­al, contact Frank Hawkins or Julie Marshall, Hawk Associates­, at (305) 451-1888, e-mail: info@hawka­ssociates.­com, or visit www.americ­anmicrocap­s.com or www.hawkas­sociates.c­om . To sign up for free e-mail notificati­on of future releases, visit 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.

 
20.07.07 00:42 #2  derKleinePrinz
...langsam gehts up... ...in US heute wieder knapp 30% plus...   ...zwar noch mit relativ geringwert­igen Umsätzen..­.   ...aber wenn da Volumen reinkommt.­..   ...da heißt es da abfahrt...­.  


...freue mich schon auf die in diversen US-Boards erwarteten­ 50Cent!!!


 

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