3 million for the
prior year period. William Yeomans, former supervisor at the Civil
Rights Division of the U. Department of Justice agrees, but will caution
against relying on litigation as the only or primary form of oversight. correctional facilities; their impact on the
incarcerated, the men and women who staff facilities, and society at large;
and how to make America 's prisons and jails safer and more effective.

Stephens Investment Management Group Outsources Back Office to Mellon

News and other information
about Mellon is available at http://www.

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The call will
also be available by dialing (800)259-0251 or for international callers,
(617) 614-3671 and by using the passcode 61657302.

National Commission Examines Oversight of U.S. Prisons and Jails and Gang Activity Behind Bars

"The
questions 'who's watching' and 'who's responsible' are at the beginning and
end of dealing with all of the problems we've examined. Victoria
Wright told the Commissioners about her husband of 33 years, Jay, who was
convicted of a white-collar crime and died last August while serving his
three-year sentence in a California State prison. "It is critical that our
nation 's prison system be continually evaluated, with rigorous examination of
the effectiveness of its programs , careful review of abuses and potential
abuses, and creative assessment of new ideas.
Headquartered in Pittsburgh, Mellon is one of the world's leading providers of
financial services for institutions , corporations and high net worth
individuals, providing institutional asset management, mutual funds , private
wealth management, asset servicing, payment solutions and investor services,
and treasury services.

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Providence's direct client census grew to 16,859 at March 31, 2005, a
148% increase from 6,787 at March 31, 2004. These results are based on current contract
estimates, rate and census projections and do not include any new contract
wins or acquisitions. As corrections
professionals , we are always trying to address this so that society's
requirements for a penal system can be met at the same time we are trying to
protect and care for inmates. For Cate, independence is crucial .

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0 million

- Managed revenue grew 77% to a record $35. We also recorded over $500,000 of audit and Sarbanes-Oxley related
expenses in the first quarter which will not recur until this time next year. MT,
8:00 a. Interested parties are
invited to listen to the call live over the Internet at
http://www. Through its owned and managed entities, Providence
maintains 320 government contracts in 21 states and the District of Columbia
as of March 31, 2005.13
Diluted $0.
"Mellon is highly regarded throughout the asset management world as a
leader in outsourcing services," said Zoe Hines, executive vice president of
Stephens Inc .

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Certain statements herein, such as any statements about Providence's
confidence or strategies or its expectations about revenues, results of
operations, profitability, contracts or market opportunities , constitute
"forward-looking statements" within the meaning of the private Securities
Litigation Reform Act of 1995. These
factors include, but are not limited to, reliance on government-funded
contracts, risks associated with government contracting, risks involved in
managing government business, legislative or policy changes, challenges
resulting from growth or acquisitions, adverse media and legal, economic and
other risks detailed in Providence's filings with the Securities and Exchange
Commission. prisons and jails, and on the nature and
prevalence of gang violence. He had a history of heart
attacks, and she believes he did not receive the medication he needed. Oversight
mechanisms must operate outside of the department of corrections and must be
insulated from the legislature and executive branches of government.org/public_hearing_4."
"We continue to expand our outsourcing business, which is a key growth
area for Mellon," said Steve Papulak, business development manager for
Mellon's Investment Manager Solutions group.

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1 million, or
$0.
"We experienced our strongest results yet from many of our new markets
including Washington, DC, Indiana, California and Massachusetts.96 for 2005 and
revenues of $130 million.13

Weighted-average number of common
shares outstanding:
Basic 9,498,806 8,492,573
Diluted 9,659,489 8,785,917

The Providence Service Corporation
Condensed Consolidated Balance Sheets
(in thousands except share and per share data)

March 31, December 31,
2005 2004
Assets (Unaudited ) (Audited)
Current assets:
Cash and cash equivalents $13,479 $10,657
Accounts receivable, net of allowance of
$156,000 and $221,000 20,549 18,823
Management fee receivable 5,055 5,023
Prepaid expenses and other 3,519 3,534
Deferred tax asset 475 475
Total current assets 43,077 38,512
Property and equipment, net 2,290 2,316
Notes receivable 1,282 1,282
Goodwill 24,789 24,717
Intangible assets, net 7,377 7,511
Deferred tax asset 607 607
Other assets 837 976
Total assets $80,259 $75,921
Liabilities and stockholders' equity
Current liabilities:
Accounts payable 1,872 1,244
Accrued expenses 8,740 7,995
Deferred revenue 549 948
Current portion of capital lease obligations 95 103
Current portion of long-term obligations 400 300
Total current liabilities 11,656 10,590
Capital lease obligations, less current portion 15 33
Long-term obligations, less current portion 600 700
Stockholders' equity:
Common stock: Authorized 40,000,000
shares; $0. Testimony by Professor James Byrne of the University of
Massachusetts-Lowell helped to bridge the issues of gangs and oversight:
"Oversight is critical because as a society, we have to get past the 'out of
sight; out of mind' mentality where prisoners are concerned," making the point
that what happens inside prison -- including gang violence -- doesn't stay
inside prison but instead reaches into community .

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3% increase in
spending in programs that include Medicaid, State Children's Health Insurance
and substance abuse treatment," McCusker concluded.m.com. Providence undertakes no obligation to update any
forward-looking statement contained herein. The
Commission will release its final report and recommendations in the spring of
2006.

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A replay will also be available until May 12, 2005 by
dialing (888) 286-8010 or (617) 801-6888, and using passcode 83929314. Such forward-looking statements involve a
number of known and unknown risks, uncertainties and other factors which may
cause Providence 's actual results or achievements to be materially different
from those expressed or implied by such forward-looking statements. LOS ANGELES, Today the Commission on Safety and
Abuse in America 's Prisons began its final hearing with testimony from
corrections professionals, prison monitors and litigators, former prisoners,
scholars, and others on the crucial role of oversight and accountability in
creating safe conditions in U.

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001 par value; 9,558,886 and
9,486,879 issued and outstanding
(including treasury shares) 10 9
Additional paid -in capital 67,027 65,732
Accumulated earnings (deficit) 1,250 (844)
68,287 64,897
Less 146,905 treasury shares, at cost 299 299
Total stockholders' equity 67,988 64,598
Total liabilities and stockholders ' equity $80,259 $75,921

The Providence Service Corporation
Condensed Consolidated Statements of Cash Flows
(in thousands)
(UNAUDITED)

Three months ended
March 31,
2005 2004
Operating activities
Net income $2,094 $1,102
Adjustments to reconcile net income to
net cash provided by operating activities:
Depreciation 207 151
Amortization 164 78
Amortization of deferred financing costs
and discount on investment 31 21
Stock compensation -- 43
Changes in operating assets and liabilities,
net of effects of acquisitions:
Trade accounts receivable, net (1,726) (1,785)
Management fee receivable (31 ) 498
Prepaid expenses and other 122 (177)
Accounts payable 628 525
Accrued expenses 744 856
Deferred revenue (400) --
Net cash provided by operating activities 1,833 1,312
Investing activities
Purchase of property and equipment (181 ) (130)
Acquisition of businesses, net of cash acquired (102) (3,476)
Net cash used in investing activities (283) (3,606)
Financing activities
Net payments on revolving note -- (94)
Payments of capital leases (24) (21)
Proceeds from common stock issued pursuant
to stock option exercise, net 1,296 45
Public offering costs -- (84)
Repayments of short-term debt -- (1,400)
Repayments of long-term debt - - (2,100)
Net cash provided by (used in) financing
activities 1,272 (3,654)
Net change in cash 2,822 (5,948)
Cash at beginning of period 10,657 15 ,004
Cash at end of period $13,479 $9,056

Prison and jail administrators, including the Secretary of the California
Department of Corrections and Rehabilitation Roderick Hickman, are testifying
about what correctional systems are doing to hold themselves accountable for
the safety of prisoners and staff.
In a written statement prepared in advance of his testimony tomorrow, A.
For more information about the hearing and witnesses, go to
http://www.
The Commission has received support from elected officials, including
United States Senator Diane Feinstein (D-CA).

Issues related to civil asset forfeiture and its problems .

racket bennis

Managed client census grew to 14,847 at March 31, 2005 as compared
to 8,222 at March 31, 2004.

Arizona and PT) on Thursday, May 5, 2005.com.22 $0.
Attorney General and Commission Co-Chair , Nicholas de B.T. District Court for the Middle
District of Alabama will explain tomorrow why federal constitutional
litigation is necessary to ensure that prisoners are protected from abusive
prison and jail conditions.

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The number of direct contracts
increased to 201 at March 31, 2005 from 141 at March 31, 2004.prisoncommission."

The Commission on Safety and Abuse in America's Prisons is a diverse, 21-
member, non-partisan panel. The Commission is staffed by and funded through the Vera Institute of
Justice.

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Managed revenue is presented to provide investors with an
additional measure of the size of the operations under Providence's management
or administration and can help investors understand trends in management fee
revenue.

Providence will hold a conference call at 11:00 a.m.m. Providence operates no beds, treatment facilities, hospitals, or
group homes preferring to provide services in the client's own home or other
community setting. Since March 2005 it has been exploring the most
serious problems inside U. Mellon Global Securities Services, Mellon 's Investment Manager
Solutions, Eagle Investment Systems, DPM Mellon and Mellon European Fund
Services , as well as its joint venture partnerships - ABN AMRO Mellon, CIBC
Mellon and Russell/Mellon -- deliver innovative products worldwide.0 trillion in assets under
management, administration or custody, including $729 billion under
management.

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22 per diluted share.1 million, or $0.13 per diluted share, for a year over year gain of
$992,000, or 90%.

Providence Service Corporation, through its owned and managed entities,
provides home and community based social services to government sponsored
clients under programs such as welfare, juvenile justice, Medicaid and
corrections.S. This morning, former prisoners and gang members
explained why people join prison gangs, the damage they cause, and how the
correctional environment needs to change in order to reduce the draw of gangs
for prisoners .

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Readers are cautioned not to place undue reliance
on those forward-looking statements , which speak only as of the date the
statement was made. Katzenbach.S. "Our investments in technology
are enabling us to provide increasing capabilities and enhanced service to our
clients.

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In the quarter ended March 31, 2004, net income was
$1."
Mellon's Asset Servicing group develops solution-oriented tools to support
the entire investment process for public and private pension funds , endowments
+ foundations, asset managers, mutual funds, insurance and other financial
institutions .

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, The Providence Service
Corporation (Nasdaq: PRSC) today announced financial results for the first
quarter ended March 31, 2005.fulldisclosure.
Judge Myron Thompson who serves on the U.
Mellon Financial Corporation is a global financial services company.

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Words such as "believe," "demonstrate ," "expect," "estimate,"
"anticipate," "should" and "likely" and similar expressions identify
forward -looking statements.
"Our fourth and final hearing is focused on oversight and accountability ,
because these two issues underlie everything else this Commission has
discussed since we began our work in March of last year," said former U."
The importance of oversight in both preventing and learning from problems
in corrections is being underscored throughout the two-day hearing."
Other veteran corrections administrators testifying at the hearing
include: Harley Lappin, Director of the Federal Bureau of Prisons; Gwendolyn
Chunn, President of the American Correctional Association; Dora Schriro,
Corrections Director in Arizona; and Michael Ashe, Sheriff of Hampden County,
Massachusetts ., which manages assets for institutional and Stephens
Private Client Group customers. Its asset management companies include The Dreyfus Corporation and
U.mellon.

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0 million for the first quarter of 2005, an
increase of 74% from $18. Mature
states like Virginia, Arizona, Illinois and North Carolina also had record
quarters.S.
Later today, California's Inspector General Matthew Cate will testify that
oversight and accountability are "two sides of the same coin.asp.
This outsourcing arrangement will include trade processing, securities
clearance and settlements, valuation, client billing, client statements, cash
management support services and performance and analytics measurement through
Russell /Mellon Analytical Services, LLC.

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First Quarter Highlights:

- Total revenue grew 74 % to a record $32.
Managed revenue, which represents revenue of the not-for-profit social
services organizations the Company provides management and/or administrative
services to in return for a negotiated management fee, increased 77% to
$35. A replay of the
teleconference will be available on http: //investor.com and
http://www.

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Revenue was $32.5 million for the comparable period in 2004. Contracts of managed entities grew from 64 to
119 year over year.provcorp.
Wall, who directs the Rhode Island Department of Corrections, offered his view
of the crux of the problem: "Prisons and jails are self -contained societies,
and inside there exists a natural imbalance of power.
The Commission is also hearing testimony about the problem of gang
violence behind bars. Mellon has more than $4 .com.

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Providence Service Corporation Announces 90% Increase in First Quarter Earnings

For the first quarter, the Company reported net income of $2."
"Given our strong first quarter, we continue to be comfortable with
estimated diluted earnings per share of approximately $0. The Commission's efforts to
examine issues surrounding safety and abuse in America's prisons are a
critical part of that necessary effort.K.

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ET (9:00 a.fulldisclosure.S. Since
her husband's death, she has been trying to piece together what happened.

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9 million

- Diluted earnings per share of $0.22 , ahead of expectations

- Total client census grew to 31,706 from 15,009, a 111% increase

- Total direct and managed contracts grew to 320, up 56%

TUCSON, Ariz.9 million for the quarter ended March 31, 2005 from $20.
"We are very pleased with our first quarter results , another record
revenue quarter," commented Fletcher McCusker, Chairman and CEO of Providence.

The Providence Service Corporation
Condensed Consolidated Statements of Operations
(in thousands except share and per share data)
(UNAUDITED)

Three months ended
March 31,
2005 2004

Revenues:
Home and community based services $26,175 $12,974
Foster care services 3,359 3,259
Management fees 2,499 2,222
32,033 18,455
Operating expenses:
Client service expense 24,175 13,750
General and administrative expense 3,959 2,563
Depreciation and amortization 371 228
Total operating expenses 28,505 16,541
Operating income 3,528 1,914

Other (income) expense:
Interest expense 86 119
Interest income (48) (42)
Income before income taxes 3,490 1,837
Provision for income taxes 1,396 735
Net income 2,094 1,102

Earnings per common share:
Basic $0.
Yeomans also will suggest ways of strengthening litigation as one important
way to hold systems accountable.S.-based Newton Investment Management Limited.

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22 $0. Greater accountability, however, will only occur
when people inside and outside the system recognize this challenge.

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We also expect our business to be supported by the
recent passage of the Congressional budget, which included a 6." He believes
there is more accountability today in California corrections because of the
oversight his office provides. BOSTON, Mellon Financial Corporation
(NYSE: MEL) announced that its Investment Manager Solutions group will
administer the back office for Stephens Investment Management Group, a
division of Stephens Inc. "By using Mellon 's scaleable technology platform for our back-
office needs, we expect to grow our business in a cost -efficient manner.