Providian Financial Holds Annual Meeting of Shareholders

Providian Financial Corporation (NYSE:PVN) today held
its annual meeting of shareholders in Monterey, California.
   Providian shareholders re-elected board members James P.
Holdcroft, Jr., Ruth M. Owades, and Jane A. Truelove for terms of
three years each. The shareholders also approved the material terms of
the Company's amended and restated Management Incentive Plan, and
ratified the appointment of Ernst & Young LLP, the Company's current
auditor, to remain as its independent auditor for the 2005 calendar
year.
   The Company also announced the retirement of Providian board
member J. David Grissom, who has served on the Providian board since
1997, and had been a member of the board of Providian Financial
Corporation's former parent company since 1978. "The board of
directors, my management team and I are very grateful to David for the
keen insight and principled leadership he has consistently brought to
Providian's board during his tenure. He will be missed," said Joseph
Saunders, Providian's chairman, president and chief executive officer.

   About Providian

   San Francisco-based Providian Financial Corporation
(www.providian.com) is a leading provider of credit cards to
mainstream American consumers throughout the United States. By
combining experience, analysis and technology, Providian seeks to
build long-lasting relationships with its customers by providing
products and services that meet their evolving financial needs.