Providian Financial Corporation Announces the Convertibility of Its 4% Convertible Senior Notes Due May 15 2008

01(a)(i) of the Supplemental
Indenture. The Supplemental Indenture provides that the Notes are
convertible if the closing price of the Company 's common stock exceeds
$14.

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"We're grateful to The Hartford for donating these much-needed
devices to West Middle Elementary, Quirk Middle and Hartford Public High.

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The Hartford's donation of AEDs supports a movement across the country to
increase the availability of defibrillators in schools -- strategically
placing them within easy reach of coaches, teachers, school nurses,
administrators and support staff who are trained to use them.7 billion.com.

Contacts:
Pamela Rekow
860.

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Investors
should consider the important risks and uncertainties that may cause actual
results to differ.

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Rekow@thehartford.

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Media, please contact Alan Elias of Providian Financial
Corporation at 415-278-4189. "One of our business customers asked whether we thought AEDs were
a good risk management idea," said Relyea.

Some of the statements in this release may be considered forward-looking
statements as defined in the Private Securities Litigation Reform Act of 1995.

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547.

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"Sudden cardiac arrest can strike anyone at any time without warning.8990
Pamela.

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Business Editors

SAN FRANCISCO----Providian Financial
Corporation (NYSE:PVN) today announced that its $287 .
It's called Sudden Cardiac Arrest (SCA), and without fast defibrillation -- a
pulse of electric current applied to the heart with an Automated External
Defibrillator (AED) -- it can kill. (NYSE: HIG), whose own Loss
Control department has for years worked with its business policyholders to
implement AED programs at their facilities, today took the added step of
equipping three of its Hartford neighbor schools with AEDs -- the latest
chapter in the company's longtime involvement with local education issues. Customers of The Hartford are
eligible for significant savings on the cost of AED hardware and associated
services through an alliance with a major AED manufacturer.

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It can happen in a high rise. We
believe that equipping each of our partner schools with AEDs is a vital step
in ensuring the safety and well-being of both students and adults."
As part of The Hartford's donation, Hartford Public High will receive 12
units and Quirk Middle and West Middle Elementary schools will each receive
two.

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Holders of the Notes may
convert the Notes into shares of the Company's common stock during the
next fiscal quarter (April 1, 2005 until June 30, 2005) at the
conversion rate then in effect .S. News reports are filled with success
stories, when lives were saved using the devices; as well as tragedies, when
help wasn't able to get there in time.

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Currently, only 5 to 8 percent of SCA
victims survive, due to delayed access to defibrillation. We assume no obligation to update this release, which speaks as
of the date issued.Gallant@thehartford.

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Leading National Insurer Equips Neighbor Schools With the Latest in Emergency
Medical Equipment

An Important Lesson in Risk Management, it Says

HARTFORD, Conn., It can happen on a job
site.

This category features sites about Victoria Day, a Canadian holiday commemorating the birthday of Queen Victoria on May 24, 1819.

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"The benefits of public access defibrillation are clear: The more AEDs
that are available at places where people gather, the greater the likelihood
that a trained person will be at the right place at the right time and with
the right equipment to save a life," said Relyea.

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The Hartford Financial Services Group, Inc. Numerous studies
have shown that early defibrillation can increase survival rates significantly
-- to as high as 74 percent if defibrillation is conducted within three to
five minutes.547.4938
Victoria.

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, as Trustee , dated May 27, 2003 (the "Supplemental Indenture"),
will be convertible pursuant to section 2.
When its victim is a child or young adult, the loss can be particularly
devastating to an entire community ," said Lynda Godkin, The Hartford's senior
vice president of State and Community Relations. "Numerous studies have shown
that improving access to AEDs can increase survival rates significantly.

The Hartford is one of the nation's largest financial services and
insurance companies, with 2004 revenues of $22.

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Keeping Kids Safe...The Hartford Launches Program to Give Life-Saving Defibrillators to Hartford Schools

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It can happen on a school playing field. These important risks and uncertainties include those
discussed in our Quarterly Reports on Form 10-Q, our 2004 Annual Report on
Form 10-K and the other filings we make with the Securities and Exchange
Commission.

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By
combining experience , analysis, technology and outstanding customer
service, Providian seeks to build long-lasting relationships with its
customers by providing products and services that meet their evolving
financial needs ."
"Securing additional AEDs for each of our schools is an important benefit
to the Hartford School District," said Hartford Public Schools Superintendent
Robert Henry.
"Schools are particularly important locations for AEDs because, in
addition to being places where our children spend much of their time, schools
also serve as community centers, hosting meetings, evening classes and other
events for people of all ages," said Alan Relyea, a loss control expert with
The Hartford and former paramedic instructor with one of the first advanced
life support programs in the nation.

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For more information, Investors please contact Jack Carsky at
415-278-4977.

The Hartford's support of AEDs stemmed from a customer inquiry several
years ago.
We caution investors that these forward-looking statements are not guarantees
of future performance, and actual results may differ materially.

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A.

About Providian

San Francisco-based Providian Financial is a leading provider of
credit cards to mainstream American customers throughout the U. The company is a
leading provider of investment products, life insurance and group benefits;
automobile and homeowners products; and business property-casualty insurance.

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31 per share (110% of the conversion price ) for at least 20
trading days of the 30 consecutive trading day period ending on the
last day of the preceding calendar quarter. "Based on our research of the
devices, we determined that not only was it a good idea for our customer to
implement an AED program at its workplace, but it made sense for The Hartford
to equip its own offices as well." The Hartford has since placed AEDs in each
of its offices across the country and continues to help customers implement
AED programs at their places of business.
The American Heart Association estimates that 250,000 Americans die from
sudden cardiac arrest each year.
The Hartford's Internet address is http://www.com

Since 1952, Victoria Day has been observed on the Monday preceding May 25th.

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thehartford.

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5 million of 4%
Convertible Notes due May 15, 2008 (the "Notes") issued pursuant to a
supplemental indenture between the Company and Bank One Trust Company,
N.com

Victoria Gallant
860.