Providential Holdings` Subsidiary ATC Technology Corp. Confirms a NewOrder from Wal-Mart
FOUNTAIN VALLEY, Calif., Apr 1, 2004 (BUSINESS WIRE) -- Providential Holdings, Inc. (OTCBB:PRVH) (Berlin and Frankfurt Stock Exchanges:PR7, WKN
935160) (
www.phiglobal.com), today announced its wholly-owned subsidiary ATC Technology Corp. (
www.atctech.com), will receive a new order from Wal-Mart Stores Inc. (USA) (NYSE:WMT) for its flagship product, Gamego(TM).
The world`s largest retailer, Wal-Mart, has confirmed that it is re-ordering ATC`s flagship product, Gamego, from ATC Technology Corp. Both Wal-Mart and ATC are pleased with the sales activities in the stores for Gamego. This re-order is a testimony to the product`s strength in the marketplace. In order to create even more awareness of this product, ATC will launch TV and print ad campaigns nationwide. The first state chosen is the home state of Gamego: Arizona. Once proven successful, the other states will immediately follow, eventually leading up to the busy Christmas gift-buying season.
Norm Klein, VP of Operations of ATC Technology Corp., stated, " After many months of hard work, first on the production and shipments of their first order, secondly on the post delivery support and thirdly on collecting and analyzing the data we have learned from the individual stores, I am very happy to report to our PRVH shareholders that Wal-Mart has confirmed to give us another purchase order for our Gamego product. For our flagship Gamego product, the real potential is just beginning to be realized. In order to reach this proven customer base of tens of millions of PS2, Xbox and Gamecube kids out there, we will reach them by the mass media. We are hopeful that our Gamego will become a household name soon."
Henry Fahman, Chairman and CEO of Providential Holdings, commented, " Our patience is paying off. We believe the ATC team`s ability to execute and its dedication to create value for our shareholders will contribute to the Company`s operating results in the very near future."
ATC Technology Corp., winner of a Design and Engineering award on its mobile display design and having appeared in numerous newspapers and TV channels, based in Tempe, Ariz., is an innovator and leader in mobile DVD and video game display products. It makes Gamego(TM), Moviego(TM), a mobile DVD system, and Vidego(TM), a wireless car entertainment system. These patent-pending products and future additions will play an important role in the current \$20 billion and the forecasted \$60 billion mobile entertainment industry (statistics courtesy Video Game Review magazine).
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:
www.phiglobal.com About ATC Technology:
ATC Technology Corporation, an Arizona corporation, is a manufacturer of mobile entertainment products, including Vidego(TM), Gamego(TM), and Moviego(TM).
The Vidego(TM), winner of the prestigious 2001 Innovation Engineering and Design Award from IDSA (Industrial Designers Society of America), is one of the finest and affordable car theater systems available to consumers. With its wireless viewing monitor, which attaches easily to the back of any automobile headrest, the patent-pending Vidego(TM) system provides consumers with the highest quality DVD and Video players and hours of entertainment while traveling.
Launched in late 2002, the Gamego(TM) gives children the opportunity to play video games or DVD movies in the car, RV, SUV, van or boat by connecting the product to an existing Microsoft Xbox(TM), Sony PlayStation 2(TM), or Nintendo Gamecube(TM). Like the Vidego(TM), the Gamego(TM) also has a viewing monitor which attaches easily to the back of any automobile headrest. Its portability enables video-gamers to take their favorite video games out of the home and to the places they want to be.
URL:
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.
These and other risks are identified in the company`s SEC filings and should be considered in evaluating the forward-looking statements made herein.
SOURCE: Providential Holdings, Inc.
CONTACT: ATC Technology
Keith Wong, 480-966-6800
www.atctech.com or
Providential Holdings
Henry Fahman, 714-642-0571
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