Provident Financial Holdings Inc., the holding company for Provident Savings Bank, F.S.B., today announced that Craig G. Blunden has been appointed to the Thrift Institutions Advisory Council (TIAC) for a 2-year term.

TIAC was established in 1980 by the Board of Governors of the Federal Reserve to provide information and views on the thrift industry. The 12 TIAC members meet with the Federal Reserve Board, chaired by Alan Greenspan, three times a year for frank, off-the-record exchanges of information and opinions on current conditions and practices in the thrift industry, the home mortgage market and regulatory issues.

Craig G. Blunden, chairman, president and chief executive officer of the Company said: "I am honored to represent the thrift industry and look forward to participating in meaningful economic and regulatory discussions with this prestigious group. Savings institutions continue to be a very important part of the financial services industry particularly in the home mortgage market and must have their voices heard by policy makers."

Safe Harbor Statement

Certain matters in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements 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 due to 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 the Annual Report on Form 10-K for the fiscal year ended June 30, 2004. Forward-looking statements are effective only as of the date that they are made and Provident Financial Holdings Inc. assumes no obligation to update this information.