SAN FRANCISCO, Dec. 6 /PRNewswire-FirstCall/ --
Providian Financial Corporation (NYSE: PVN) today announced that Providian
National Bank has agreed to sell $750 million of three-year Series 2002-B
floating rate class A asset backed certificates issued by the Providian
Gateway Master Trust. The certificates have not been and will not be
registered under the Securities Act of 1933 or any state securities law and
may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.
About Providian
San Francisco-based Providian Financial is a leading provider of credit
cards and deposit products to customers throughout the U.S. One of America's
largest bankcard issuers, Providian has over $19 billion in managed
receivables and more than 12 million customer relationships.
Certain statements contained in this press release are forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
and are subject to the "safe harbor" created by those sections.
Forward-looking statements are based on certain assumptions by management and
are subject to risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements. These risks
and uncertainties include, but are not limited to: changes in general
economic conditions, the securitization markets and the way in which the
Company is perceived in such markets, and conditions relating to
securitization transactions. These and other risks and uncertainties are
described in detail in the Company's Annual Report on Form 10-K and Annual
Report to Stockholders for the fiscal year ended December 31, 2001 under the
headings "Cautionary Statement Regard Forward-Looking Information" and "Risk
Factors." Readers are cautioned not to place under reliance on any
forward-looking statement, which speaks only as of the date thereof. The
Company undertakes no obligation to update any forward-looking statements.
SOURCE Providian Financial Corporation
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Related links:
http://www.providian.com
CONTACT:
Alan Elias, +1-415-278-4189, or Laurel
Munson, +1-415-278-4770, or Investors, Jack Carsky,
+1-415-278-4977, all of Providian Financial Corporation
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