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Providian Launches Search for New Chief Financial Officer

          New CEO Saunders Continues Efforts to Build Executive Team

    SAN FRANCISCO, Feb. 19 /PRNewswire-FirstCall/ -- Providian Financial
Corporation (NYSE: PVN) President and CEO Joseph Saunders announced today that
the Company has retained Russell Reynolds to assist in identifying and
recruiting a new chief financial officer.
    In a memorandum to employees, Saunders announced today that Providian CFO
Jim Rowe has decided to leave the Company to pursue other activities. He also
announced that David J. Petrini has resigned his position as vice chairman and
has agreed to serve as the Company's chief financial officer on an acting
basis pending the successful completion of the search.
    Saunders expressed gratitude for the years of service that both Rowe and
Petrini have given to the Company.
    San Francisco-based Providian Financial is a leading provider of credit
cards and deposit products to customers throughout the U.S.



SOURCE Providian Financial Corporation




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    Providian Financial Corporation