LOS ANGELES -- Providential Holdings, Inc. (OTCBB:PRVH - News; Berlin and Frankfurt Stock Exchanges: PR7, WKN 935160), a provider of international advisory services specializing in mergers and acquisitions, announced today that its majority-owned subsidiary Touchlink Communications, Inc. has entered into a letter of intent to acquire a 51% equity interest in Eye Telecom, Inc., a Virginia corporation and FCC-licensed carrier.

This transaction is expected to be consummated by July 31, 2005, subject to the signing of a definitive agreement and the approval of the board of directors of both companies.

With switch facilities in New York, Los Angeles, London and Italy, Eye Telecom has direct routes to 17 countries including the Middle East, Latin America, Africa and the Far East, and offers Wholesale Carrier Services, Switch Partition (Virtual Switch), VoIP, Private Label Prepaid Calling Cards and Prepaid Mobile Service.

Eye Telecom utilizes the latest technologies and a Tier-One carriers' service quality to better serve the present with an EYE on the future, and prides itself in providing the communication industry with the highest standards in services, products and exceptional customer service.

Henry Fahman, Chairman and CEO of Providential Holdings, stated: "We are very pleased to partner with a team of excellent professionals at Eye Telecom and strongly believe that this investment will greatly benefit shareholders of both companies in the very near future."

Eye Telecom Inc.