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WKN 935160


Providential Holdings Rated `Speculative Buy/4` By Investrend AnalystSharifzadeh, CFA

Jul 6, 2004 (financialwire.net via COMTEX) -- (FinancialWire) (Investrend Research Syndicate) Providential Holdings (OTCBB: PRVH) is maintained at a " Speculative Buy/4" rating in a Research Update issued by Mohammad Sharifzadeh, MBA, CFA, although the analyst said the company and its subsidiaries " have been aggressively continuing their endeavors to improve business and enhance potentials for future profitability."

" For the quarter ended March 31, 2004 total revenues were $2.1 million as compared to $9,784 for the similar quarter in 2003. The major portion of current quarter`s revenue, about $1.99 million, was due to sales and tuitions generated by the subsidiaries," said the analyst, noting that " the company`s consolidated financials are expected to improve dramatically as a result of the closing of the Tangshan Yutian Saw Corporation."

Providential Holdings acquired 60% of the company, sufficient to enable Providential Holdings to recognize its revenues and profits, which the company said was $81,584,225 and $17,937,317, respectively, in 2003, representing a 19.51% revenue growth and 24.76% growth in net profit compared to the year 2002.

The company has also announced an impending acquisition of Hefei Iron & Steel Group Company, Ltd, Hefei, Anhui Province, China, which it said had revenue of $257,000,000 and gross profit of $36,125,000 for the year 2003. The current steel making capacity is 1.4 million metric tons per year.

The company also announced that its subsidiary ATC Technology Corp. is selling its products into Wal-Mart (NYSE: WMT), and will distribute 20 million shares of its stock to shareholders on a one for five basis, and its Entec Software subsidiary is expected to merge July 12 with Creative Vistas, Inc. (OTCBB: CVSA), after which Providential will own 13%.

The full report, including important disclosures and disclaimers, is at www.investrendresearch.com

An InvestorPower" page has been created regarding the company at www.investrend.com/company/list.asp?sPathParam=yes.

Credentials for analyst Mohammad Sharifzadeh, MBA, CFA, is at www.investrend.com/articles/secondlevel.asp?level=238

Investrend Research has been the leading independent equity research publishing and distribution program since 1996, with over 70 AIMR-qualified professional analysts posting more than 650 reports to date. Anyone may enroll a company in the Investrend platforms. Enrollment fees for the Institutional Research platform is $28,300 per annum. Enrollment fees for " Company of the Week" webcasts are $2,840.00. These enrollment fees are being paid by the company. Analysts are paid in advance for their initial reports by Investrend Research to limit or eliminate pecuniary interests, and no one associated with the program may own or trade in the equities of companies under coverage.

Investrend Research subscribes to the " Standards for Independent Research Providers" at www.firstresearchconsortium.com .

Anyone interested in receiving alerts regarding Providential Holding research or webcasts should e-mail [e-mail] with " PRVH" in the subject line, or click on www.investrend.com/contact.asp.

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Providential Holdings` Subsidiary ATC Technology Corp Acquires a LeadingMedical Device Maker

FOUNTAIN VALLEY, CA, Jul. 06, 2004 (MARKET WIRE via COMTEX) -- Providential Holdings, Inc. (OTC BB: PRVH) (Berlin Stock Exchange: PR7, WKN 935160) (www.phiglobal.com) today announced that its wholly owned subsidiary ATC Technology Corp has signed an agreement to acquire 96% ownership of a leading Chinese high tech medical device manufacturer, Shenzhen Lifetech Scientific Inc. (Shenzhen, China) www.lifetechmed.com/english/index.asp.

In preparation for ATC to become a publicly traded company and in order to increase its share value, the management of ATC and PRVH had decided to look for a high tech, high growth and high profit margin company for ATC to acquire and to increase its total sales revenue and profit figures. Lifetech was selected because of its leadership position in several products, such as the Occluder, a similar product made by AGA Medical Corp in Minnesota, USA, www.amplatzer.com. AGA has about 60% market share in China, while Lifetech has 25-30% market share and increasing. According to the signed agreement, ATC will fund the acquisition using a portion of its common stock after the distribution of share dividends recently announced.

Lifetech is an established company with solid revenues and profit for the past five years. Its major products include the minimum invasive medical devices: 1) drug coated coronary stents, renal stents inserted into blood vessels by doctors to unclog coronary and renal artery blockages without open surgeries; 2) TAA/AAA stent grafts for treating aortic aneurysm; 3) vena cava filters for prevention of pulmonary embolism; 4) occluders for treating congenital heart defects. Patients can usually feel the benefits immediately and return home the next day. Lifetech Scientific, Inc.`s products are made in its own clean room facility and sold directly to hospitals in China. It has an extensive network of sales offices throughout China. The company has spread its products to more than 20 provinces. Since the sales volume of occluders accounts for 25-30% of the domestic market, the company has become the biggest domestic supplier of occluder in China.

Lifetech`s revenues and net profits are expected to reach $3,200,000 and $1,000,000, respectively, for the year 2004 and to $10,000,000 and $2,000,000 respectively in 2005 because of several new products ready to hit the market soon. From 2005 henceforth, it expects to grow at the rate of more than 20% per year in next five to ten years because of the untapped market potential in China. Therefore, with a Price/Earnings ratio greater than 20 (current industry P/E ratio is approximately 25x), the new public company`s market capitalization is expected to surpass $20,000,000 in 2004 and $40,000,000 in 2005, respectively. Lifetech enjoys a home base advantage and has consistently generated gross profit margins of over 50%. All of their devices have obtained the Chinese SFDA regulatory approvals (similar to the FDA in the USA).

Keith Wong, President and CEO of ATC Technology Corp., stated, " This new acquisition enables ATC to enter the very lucrative medical device market in China and not to rely completely on its mobile electronics business, which is facing increasing competitions. This acquisition will make ATC`s shares much more valuable. Because of the life style changes due to its rapid industrialization, the problems of constricted blood vessel due to plaque buildup common in the US are appearing rapidly in China. Lifetech Scientific is there with the right affordable products in the right place and at the right time. These products unblock arteries in the heart, lungs and kidneys without open surgeries. We expect to close this acquisition in 60-90 days from now."

About Providential:

Providential Holdings and its subsidiaries engage in a number of diverse business activities, the most important of which is mergers and acquisitions.

The Company has designed a three-pronged business model that can potentially yield long term rewards with relatively diversified revenue streams, by: (1) Acting as an incubator for emerging companies and technologies that deals with young firms whose production and operational capability can be brought up to speed relatively quickly if product acceptance occurs. (2)Taking minority interest as compensation for financial consultancy and M&A advisory services with the objective of exiting at a profit once the company has restructured or performs as expected after listing.(3)Acquiring and consolidating undervalued opportunities in various high-growth industries to create additional value for our shareholders and target partners by combining expertise in both the product and capital markets.

URL: www.phiglobal.com

About ATC Technology:

ATC Technology Corporation, an Arizona corporation, makes mobile entertainment products and sells to chain stores. The Company has also set up a medical division to focus on angioplasty devices and other medical products in China. www.atctech.com

Safe Harbor: 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.


Contact:
Providential Holdings
Henry Fahman
714-849-1477
www.phiglobal.com

Lifetech Scientific
Eric Zi
011-86-0755-83570973
www.lifetechmed.com

SOURCE: Providential Holdings, Inc.

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4. PRVH has announced some very positive news recently. But the market has not responded well to them. PRVH’s management believes that the stock is very undervalued. Why?

We have recently acquired 60% of a major steel tool company in China that generated $81,584,225 in revenues and $17,937,317 in net profits in 2003. At a conservative estimate of $97,720,000 in revenues and $22,330,000 in net profits for Fiscal Year 2004, based on year-to-date performance, and the current Price-Earnings ratio of 17.8 for the Appliance and Tool industry, the market capitalization is expected to surpass $395,000,000 as a publicly-traded company. This transaction alone should add over $235,000,000 in market cap to Providential Holdings or at least two dollars per share

based on current industry valuation. This steel tool company is also the number one rotary blade manufacturer in Asia. China needs a lot of construction work done now and in the next 10-20 years. They need products from this company to cut pipes, trenches, tunnels, cement and canals, not to mention small household rotary blades. Their largest rotary blades stand taller than 1.5 meters in diameter and worth tens of thousand of dollars each. In addition, we have other equally significant transactions coming. Our share price should not be in the current level. It is perhaps we have failed to communicate clearly to the investment community. We believe our share price should increase substantially once people realize the earnings potential and once we announce our first quarterly result for Q1 of 2005.



http://www.atctechnologycorp.com/prqa/Q&A_ATC_website_final.…

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