Providian reported 2Q/02 net income of $153.9 million compared to net income of $232.4 million for the second quarter of 2001. Providian also announced Tuesday the closure of its Sacramento operations facility, effective immediately, and plans to close facilities in Fairfield, California and Salt Lake City, Utah by the end of this year. Approximately 300 employees will be affected by the closing of the Sacramento facility and an additional 1,000 employees will be affected at the Fairfield and Salt Lake City facilities. Since October, Providian has cut its workforce by 47% after the collapse of the sub-prime credit card market. The Company ended the second quarter with $19.6 billion in total managed credit card loans and 12.9 million accounts, down from $22.1 billion in managed credit card loans and 15.0 million accounts at the end of the first quarter 2002. During 2Q/02, Providian originated approximately 350,000 new customer accounts with a balanced distribution in the middle and prime market segments of approximately 65% and 35%, respectively. The managed net credit loss rate and the managed 30+ day delinquency rate for the second quarter of 2002 were 17.53% and 10.16%, respectively. The quarter ended with a managed charge-offs for the month of June 2002 of 17.22%, down from the managed net credit loss rate for the month of March 2002 of 17.64%. Providian says it spent $104.2 million in solicitation and advertising during the second quarter. For complete details on Providian’s 2Q/02 results visit CardData ([www.carddata.com]).