Joe Krakoviak
+1 (917) 452 2406

August 06, 2003
Providian and Accenture Sign Outsourcing Agreement to Enhance Bankcard Issuer’s Operating Efficiency and Flexibility

Accenture to Provide Application Development and Maintenance Support and Services

SAN FRANCISCO; Aug. 6, 2003 Providian Bancorp Services, a subsidiary of Providian Financial Corporation, and Accenture have signed an agreement under which Accenture will provide Providian with technology application development and maintenance services.

The arrangement, which is part of Providian’s strategy to enhance operational efficiency and IT flexibility, calls for the two organizations to work together to increase the service levels and performance of Providian’s IT operations. The agreement builds on Providian’s existing relationship with Accenture, which has previously assisted Providian in upgrading its credit card technology platform, among other initiatives. Providian plans to administer the relationship through its Enterprise Technology group.

“This outsourcing agreement with Accenture marks another important step toward streamlining our operations infrastructure. With this agreement in place, we anticipate reduced costs, more efficient operations, access to an expanded pool of talent, and more flexibility than ever in how we deploy our resources," said Jim Saber, executive vice president and chief information officer.

“Outsourcing through Accenture is the logical choice to execute Providian’s strategy,” said Jim Sikora, the Accenture partner leading the applications outsourcing strategy. “We aim for Providian to benefit from an experienced outsourcing operation, lower costs and leading technology, as well as the further development of a strong relationship with Accenture.”

About Accenture
Accenture is a global management consulting and technology services company. Committed to delivering innovation, Accenture collaborates with its clients to help them realize their visions and create tangible value. With deep industry expertise, broad global resources and proven experience in consulting and outsourcing, Accenture can mobilize the right people, skills, alliances and technologies. With more than 80,000 people in 47 countries, the company generated net revenues of $11.6 billion for the fiscal year ended August 31, 2002. Its home page is www.accenture.com.

About Providian
San Francisco-based Providian Financial (www.providian.com) is a leading provider of credit cards and deposit products to customers throughout the U.S. 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.

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