Providian Selected by TV Retailer HSN for Co-Branded Credit Card

Providian Selected by TV Retailer HSN for Co-Branded Credit Card 


SAN FRANCISCO, Nov. 17  /PRNewswire-FirstCall/ -- Providian Financial
Corporation  today announced that the TV shopping network HSN has selected the
company to market and issue a new co-branded credit card to HSN viewers.

Marketing is scheduled to begin in January, and will include both HSN on-air,
phone, and direct mail support.  In addition to attractive interest rates, the
new HSN Rewards card, which will be issued by Providian National Bank, will
feature one of the industry's most competitive rebate and rewards programs.

With the co-branded HSN Rewards(R) card, HSN cardholders will earn points for
dollars spent, which they can use towards the purchase of HSN merchandise.
Customers will also receive $10 toward a future HSN purchase the first time they
use the card.

"The HSN Rewards card is a high potential co-brand card marketing partnership
that perfectly fits our target demographics," said Joseph Saunders, Providian's
chairman and chief executive officer. "We're very pleased that HSN has chosen
Providian as its co-branded credit card marketer."

"We're very excited to be working with Providian," said Paul Guyardo, executive
vice president of Television & Marketing at HSN. "Together, we're about to
launch one of the most competitive loyalty programs in the television shopping
industry."

About HSN

HSN, an operating business of IAC/InterActiveCorp (NASDAQ:IACI), originated the
television shopping concept in 1977.  The idea materialized on a small AM radio
station in Florida and has since grown into a global multichannel retailer with
a thriving TV, catalog and Web business on hsn.com. HSN generated worldwide
consolidated sales of close to $2 billion in 2002, reaches more households
worldwide than any other TV shopping network and is the 4th largest cable
television network in the U.S.

About Providian

San Francisco-based Providian Financial (http://www.providian.com/) is a leading
provider of credit cards to Middle American customers throughout the U.S. 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.

Forward-Looking Statement

Certain statements contained in this press release are forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
which are subject to the "safe harbor" created by those sections.
Forward-looking statements include, without limitation: expressions of "belief,"
"anticipation," or "expectations" of management; statements as to industry
trends or future results of operations of the Company and its subsidiaries; and
other statements that are not historical fact. Forward-looking statements are
based on certain assumptions by management and are subject to risks and
uncertainties that could cause actual results to differ materially from those in
the forward-looking statements. These risks and uncertainties include, but are
not limited to, competitive pressures; factors that affect delinquency rates,
credit loss rates and charge-off rates; general economic conditions; consumer
loan portfolio growth; changes in the cost and/or availability of funding due to
changes in the deposit, credit or securitization markets; changes in the way the
Company is perceived in such markets and/or conditions relating to existing or
future financing commitments; the effect of government policy and regulation,
whether of general applicability or specific to the Company, including
restrictions and/or limitations relating to the Company's minimum capital
requirements, deposit taking abilities, reserving methodologies, dividend
policies and payments, growth, and/or underwriting criteria; year-end audit
adjustments; changes in accounting rules, policies, practices and/or procedures;
the success of product development efforts; legal and regulatory proceedings,
including the impact of ongoing litigation; interest rates; one-time charges;
extraordinary items; the ability to recruit and replace key personnel; and the
impact of existing, modified, or new strategic initiatives. These and other
risks and uncertainties are described in detail in the Company's Annual Report
on Form 10-K and Annual Report to Stockholders for the fiscal year ended
December 31, 2002 under the headings "Cautionary Statement Regard Forward-
Looking Information "and "Risk Factors." Readers are cautioned not to place
undue reliance on any forward-looking statement, which speaks only as of the
date thereof. The Company undertakes no obligation to update any forward-
looking statements.

NOTE: Investor information is available on Providian Financial's website at
http://www.providian.com/. 

DATASOURCE: Providian Financial



CONTACT:  investors, Jack Carsky, [phone], or media, Alan Elias,

[phone], or Beth Haiken, [phone], all of Providian Financial;

or Darris Gringeri, [phone], for HSN



Web site:  http://www.providian.com/ 

Copyright