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Press Release Source: Providential Holdings, Inc.

Providential Holdings Reconfirms Stock Dividend for Shareholders of Record
Wednesday December 24, 1:00 am ET
Distribution Will Allow Shareholders to Benefit from Direct Ownership in Promising Mobile Entertainment Company

FOUNTAIN VALLEY, Calif.--(BUSINESS WIRE)--Dec. 24, 2003-- Providential Holdings, Inc. (OTCBB:PRVH - News; Berlin, Frankfurt, and Munich Stock Exchanges:PR7, WKN 935160) today reconfirmed that it will distribute 5 shares of ATC Technology Corp`s common for every 100 shares of Providential Holdings common stock to the Company`s shareholders of record as of December 31, 2003.
The dividend distribution is expected to take place in mid 2004 assuming certain conditions are satisfied, including the effective listing of ATC Technology`s stock on the OTC Bulletin Board or another exchange in the United States. As such, the dividend shares will be freely tradable and transferable. Providential shareholders of record will receive the stock dividend without any consideration.

"This dividend is an excellent example of the way that shareholders benefit from the value we create through our portfolio of companies," said Henry Fahman, Chairman and CEO of Providential Holdings. "This distribution will allow shareholders to benefit from the expected growth in ATC, which has received significant attention from retailers due to its promising mobile entertainment products. This area is one of the fastest growing sectors in the entertainment sector, and this dividend will reward shareholders who will benefit from potential appreciation in ATC. We anticipate that future dividends of our holdings will be an important part of our corporate strategy to create value for Providential shareholders."

ATC Technology Corp, a wholly-owned subsidiary of Providential Holdings, is a manufacturer of mobile entertainment products, including Gamego(TM), Vidego(TM) and Moviego(TM). ATC has recently shipped its award-winning Gamego(TM) units to 500 select Wal-mart stores in the U.S. for the Holiday Season. URL: www.atctech.com.

About Providential Holdings

Providential Holdings, Inc. (PHI) is a diversified holding company committed to creating shareholder value through growth. The company focuses on selective technologies, capital and financial services, international markets and special situations.

Products and services include mobile entertainment systems, information technology, identification technology, infrastructure development, telecommunications, trade commerce, and mergers and acquisitions, especially in the U.S. and emerging overseas markets with high potential for growth. URL: http://www.phiglobal.com.

Forward-looking statements:

The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company`s operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company`s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.

Providential Holdings, Inc.
Henry Fahman, 714-849-1577

Source: Providential Holdings, Inc.

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