SOURCE: Provident Financial Holdings, Inc.

CONTACT:  Provident Financial Holdings, Inc.
Craig G. Blunden, Chairman, President and CEO
Donavon P. Ternes, Chief Operating Officer and
Chief Financial Officer
(951) 686-6060

Certain matters in this News Release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may relate to, among others, expectations of the business environment in which the Company operates, projections of future performance, perceived opportunities in the market, potential future credit experience, and statements regarding the Company's mission and vision. These forward-looking statements are based upon current management expectations, and may, therefore, involve risks and uncertainties. The Company's actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide range of factors including, but not limited to, the general business environment, interest rates, the California real estate market, competitive conditions between banks and non-bank financial services providers, regulatory changes, and other risks detailed in the Company's reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2009.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Provident Financial Holdings, Inc.

CONTACT:  Provident Financial Holdings, Inc.
Craig G. Blunden, Chairman, President and CEO
Donavon P. Ternes, Chief Operating Officer and
Chief Financial Officer
(951) 686-6060

A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities, in any state or jurisdiction in which such offer, solicitation, or sale of securities would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offers, solicitations of offers to buy, or sales of securities will only be made pursuant to the registration statement filed with the SEC, including a prospectus when available.

The Bank currently operates 14 retail/business banking offices in Riverside County and San Bernardino County (Inland Empire). Provident Bank Mortgage operates wholesale loan production offices in Pleasanton and Rancho Cucamonga, California and retail loan production offices in Glendora and Riverside, California.

For more financial information about the Company please visit the website at www.myprovident.com and click on the "Investor Relations" section.

Safe-Harbor Statement

This press release includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are necessarily subject to risk and uncertainty and actual results could differ materially due to various risk factors, including those set forth from time to time in our filings with the SEC. You should not place undue reliance on forward-looking statements and we undertake no obligation to update any such statements. In this press release we make forward-looking statements about our ability to raise common capital, the amount of capital we intend to raise and our intended use of that capital. Specific risks that could cause results to differ from the forward-looking statements are set forth in our filings with the SEC and include, without limitation, negative reaction to our public offering, unfavorable pricing of the offering and deterioration in the economy or our loan portfolio that could alter our intended use of the capital.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Provident Financial Holdings, Inc.

CONTACT: Provident Financial Holdings, Inc.
Craig G. Blunden, CEO
Donavon P. Ternes, COO, CFO
(951) 686 - 6060

Expected next investor conference call information:
Conference Call Date: 7/31/2009
Conference Call Time (ET): 12:00 PM
Conference Call URL:

Expected next dividend:
Dividend Announcement Date: 7/23/2009
Dividend Record Date: 8/17/2009
Dividend Pay Date: 9/11/2009
Dividend Amount: 0.01