PHI GROUP, INC. Changes Trading Symbol, Updates on Subsidiary's Mining Business

  PHI GROUP, INC.,
formerly Providential Holdings, Inc. (OTCBB: PHIE) (FRANKFURT: PR7) (WKN
935160), a company engaged in mergers and acquisitions, real estate
development, mining, and investing in special situations, today announced
its new trading symbol and recent development regarding PHI Mining Group,
Inc., a majority-owned subsidiary of the Company (PINKSHEETS: PHIG).

As a result of the change of the Company's name to PHI GROUP, INC. and the par value of its common stock to $0.001 per share, as approved at the annual shareholder meeting on April 10, 2009, PHI GROUP's common stock will begin trading under the new symbol "PHIE" starting May 15, 2009. These changes will not affect the rights and privileges of the Company's shareholders in any way.

On another note, the Company's majority-owned subsidiary PHI Mining Group has recently entered into a joint venture agreement with Phnom Penh-based Paul Cham Group Co., Ltd. to engage in mining of limestone in Cambodia. According to the agreement, PHI Mining Group will own 60% of the joint venture company, which will be operating in Cambodia.

PHI GROUP's CEO Henry Fahman said, "We are excited to announce our new trading symbol and to update on the recent development with our partner Paul Cham Group in Cambodia. We will continue to report further progress on this new business opportunity, which we believe will generate extraordinary results for our shareholders in the near future."

About PHI GROUP, INC.

PHI GROUP, INC., formerly known as Providential Holdings, Inc., focuses on M&A and consulting services, real estate development, mining and investing in special situations. The Company assists companies to go public and raise capital, develops "Pointe 91," a luxury resort and premium residential community in Chu Lai, central Vietnam (www.philandranch.com), and engages in mining in Southeast Asia (www.phimining.com). The Company's main web site address is www.phiglobal.com.

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.

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Contact: Henry Fahman Tel: [phone] Email Contact