Providential Holdings Orchestrates Plan for Entec Software to Become a Publicly Traded Company

03/02/2004 09:54

Providential Holdings, Inc. (OTCBB:PRVH)(Berlin and Frankfurt Stock Exchanges:PR7, WKN 935160), www.phiglobal.com, today announced that its wholly-owned subsidiary Providential Capital has signed an agreement to assist Entec Software, Inc., a subsidiary of Nettel Holdings, Inc. (OTCBB:NTTL)(Berlin and Frankfurt Stock Exchanges:NT7, WKN 727487) in Entec's merger plan with a fully-reporting public company. Entec Software is expected to be traded on the NASDAQ's OTCBB in the US by the end of this month and will also be listed on other international markets in the near future. ¶ Entec Software, with offices in the US and Vietnam, is staffed with more than one hundred software engineers and programmers to provide the best quality Information Technology Solutions and Consultancy Services to its customers. More than just a software developer, Entec offers a total and complete solution to any business organization in terms of improving the information system in an organization as well as improving the competitive edge of its business. ¶ Thanks to its expertise and in-depth knowledge in Financial Accounting and Telecommunication Software, Entec is able to provide an efficient accounting and Telecommunication system that is customized to suit all areas of businesses any organization is in. Entec also has its own development teams that utilize all the latest technologies from Microsoft. With such expert knowledge in hand, it has successfully developed a vast variety of software ranging from vertical application software, including debt control management, service management, point of sales applications, telecommunications, and banking applications. All these software are Internet-ready, robust and fully scalable. ¶ As such, Entec specializes in providing customized solutions to meet the requirements and needs of any organization and is able to provide dynamic e-Business solutions that are not just front-end standalone solutions but are fully integrated with the back-end applications. ¶ URL's: US Office: www.entecsoftware.com; Vietnam Office: www.entecsoftwarevn.com. ¶ Providential will receive a significant equity stake in Entec for its consulting and advisory services and continue to assist Entec with respect to corporate strategy, corporate governance, investment banking and further merger and acquisition plans in the future. ¶ About Providential: ¶ 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. ¶ 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.

Tuesday March 2, 2004 7:10am ET -- U.S. Markets Closed All quotes delayed at least 20 minutes.

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Roanoke Technology Corp. Recapitulates Some Corporate Highlights in Recent 10-Q Filing; Roanoke Tech. Has Increased Gross Revenues
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ROANOKE RAPIDS, N.C., Mar 22, 2004 (BUSINESS WIRE) -- Roanoke Technology Corp. (OTCBB:RNKE) recapitulates below some corporate highlights featured in its recently filed 10-Q for the 1st quarter 2004. Ratio of profit to gross sales increased by 4.65% from 23.60% in 2003 to 28.65% for 2004.

The concentrated and sustained efforts made in the 1st quarter to minimize expenditure and to focus the direction of the company on its affiliates and sales leads efforts have yielded good results to date. The long-term projections are also very favorable.

Plans to expand the sales force have been drawn up and are in the process of implementation. The staff expansion will also assist in meeting the requirements of the inducement agreement the company has with the Carolinas Gateway Partnership. Funds to be obtained will assist in leasing, improving, expanding, and equipping the new company headquarters.

Consultant, Graceleyne Financial Inc. (http://www.graceleynefinancial.com) has reported that the underwriting for the sale of the $12 million corporate bond is nearing completion. The company, as previously stated, plans to utilize part of the proceeds to retire debt, initiate a stock buy back plan and increase R&D substantially for future projects being considered.

All indications point to the company being able to achieve the revenue projection of $1.8 million for this year. If achieved, this will allow the company to record its first profit since being a publicly traded company.