PVN Providian Financial

Providian Selected by TV Retailer HSN for Co-Branded Credit Card SAN FRANCISCO, Nov. 17 /PRNewswire-FirstCall/ -- Providian Financial Corporation today announced that the TV shopping network HSN has selected the company to market and issue a new co-branded credit card to HSN viewers. Marketing is scheduled to begin in January, and will include both HSN on-air, phone, and direct mail support. In addition to attractive interest rates, the new HSN Rewards card, which will be issued by Providian National Bank, will feature one of the industry's most competitive rebate and rewards programs. With the co-branded HSN Rewards(R) card, HSN cardholders will earn points for dollars spent, which they can use towards the purchase of HSN merchandise. Customers will also receive $10 toward a future HSN purchase the first time they use the card. "The HSN Rewards card is a high potential co-brand card marketing partnership that perfectly fits our target demographics," said Joseph Saunders, Providian's chairman and chief executive officer. "We're very pleased that HSN has chosen Providian as its co-branded credit card marketer." "We're very excited to be working with Providian," said Paul Guyardo, executive vice president of Television & Marketing at HSN. "Together, we're about to launch one of the most competitive loyalty programs in the television shopping industry." About HSN HSN, an operating business of IAC/InterActiveCorp (NASDAQ:IACI), originated the television shopping concept in 1977. The idea materialized on a small AM radio station in Florida and has since grown into a global multichannel retailer with a thriving TV, catalog and Web business on hsn.com. HSN generated worldwide consolidated sales of close to $2 billion in 2002, reaches more households worldwide than any other TV shopping network and is the 4th largest cable television network in the U.S. About Providian San Francisco-based Providian Financial (http://www.providian.com/) is a leading provider of credit cards to Middle American customers throughout the U.S. By combining experience, analysis and technology, Providian seeks to build long-lasting relationships with its customers by providing products and services that meet their evolving financial needs. Forward-Looking Statement 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, which are subject to the "safe harbor" created by those sections. Forward-looking statements include, without limitation: expressions of "belief," "anticipation," or "expectations" of management; statements as to industry trends or future results of operations of the Company and its subsidiaries; and other statements that are not historical fact. 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, competitive pressures; factors that affect delinquency rates, credit loss rates and charge-off rates; general economic conditions; consumer loan portfolio growth; changes in the cost and/or availability of funding due to changes in the deposit, credit or securitization markets; changes in the way the Company is perceived in such markets and/or conditions relating to existing or future financing commitments; the effect of government policy and regulation, whether of general applicability or specific to the Company, including restrictions and/or limitations relating to the Company's minimum capital requirements, deposit taking abilities, reserving methodologies, dividend policies and payments, growth, and/or underwriting criteria; year-end audit adjustments; changes in accounting rules, policies, practices and/or procedures; the success of product development efforts; legal and regulatory proceedings, including the impact of ongoing litigation; interest rates; one-time charges; extraordinary items; the ability to recruit and replace key personnel; and the impact of existing, modified, or new strategic initiatives. 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, 2002 under the headings "Cautionary Statement Regard Forward- Looking Information "and "Risk Factors." Readers are cautioned not to place undue 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. NOTE: Investor information is available on Providian Financial's website at http://www.providian.com/. DATASOURCE: Providian Financial CONTACT: investors, Jack Carsky, +1-415-278-4977, or media, Alan Elias, +1-415-278-4189, or Beth Haiken, +1-415-278-4889, all of Providian Financial; or Darris Gringeri, +1-727-872-4567, for HSN Web site: http://www.providian.com/

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