Report of Independent Accountants

Providian National Bank
  and
Bankers Trust Company

We have examined  management's  assertion that Providian  National Bank complied
with the relevant terms and conditions of Articles III and IV, and Sections 8.08
and 9.01 of the Pooling and  Servicing  Agreement,  as amended and  supplemented
(the "Agreement"),  dated as of June 1, 1993 between Providian National Bank, as
Seller and Servicer,  and Bankers  Trust  Company,  as Trustee,  during the year
ended December 31, 2000. Management is responsible for Providian National Bank's
compliance with those requirements.  Our responsibility is to express an opinion
on management's  assertion about Providian  National Bank's  compliance based on
our examination.

Our  examination  was  conducted  in  accordance  with   attestation   standards
established  by the  American  Institute of Certified  Public  Accountants  and,
accordingly,  included  examining,  on a test basis,  evidence  about  Providian
National  Bank's  compliance with those  requirements  and performing such other
procedures, as we considered necessary in the circumstances. We believe that our
examination  provides a reasonable  basis for our opinion.  Our examination does
not provide a legal  determination on Providian  National Bank's compliance with
specified requirements.

In our opinion,  management's  assertion that  Providian  National Bank complied
with the aforementioned  requirements during the year ended December 31, 2000 is
fairly stated in all material respects.

This report is intended solely for the information and use of Providian National
Bank and Bankers  Trust Company and is not intended to be and should not be used
by anyone other than these specified parties.

                                                       /s/ Ernst & Young LLP

March 5, 2001

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                        Report of Independent Accountants

Board of Directors
Providian National Bank

We have  examined  management's  assertion  that its controls over the functions
performed as Servicer of the Providian  Master Trust  ("Trust")  are  effective,
during the year ended December 31, 2000, in providing  reasonable assurance that
Trust assets are safeguarded  against loss from  unauthorized use or disposition
and that transactions are executed in accordance with management's authorization
in conformity with the Pooling and Servicing Agreement dated as of June 1, 1993,
as amended and supplemented (the "Agreement"),  between Providian National Bank,
as Seller and Servicer,  and Bankers Trust Company, as Trustee, and are recorded
properly to permit the preparation of the required financial reports. Management
is responsible  for its controls over compliance  with those  requirements.  Our
responsibility  is to express an opinion on management's  assertion based on our
examination.

Our  examination  was  conducted  in  accordance  with   attestation   standards
established  by the  American  Institute of Certified  Public  Accountants  and,
accordingly,  included  obtaining  an  understanding  of the  controls  over the
functions performed by Providian National Bank as Servicer of the Trust, testing
and evaluating the design and operating  effectiveness  of those  controls,  and
performing   such  other   procedures   as  we   considered   necessary  in  the
circumstances.  We believe that our examination  provides a reasonable basis for
our opinion.

Because of inherent  limitations in any internal  control,  misstatements due to
error  or  fraud  may  occur  and  not be  detected.  Also,  projections  of any
evaluation of the controls over the functions performed as Servicer of the Trust
to  future  periods  are  subject  to the risk  that  the  controls  may  become
inadequate  because of changes in  conditions,  or that the degree of compliance
with the controls may deteriorate.

In our opinion, management's assertion, that it believes that Providian National
Bank's  controls  over the  functions  performed  as  Servicer  of the Trust are
effective in providing  reasonable  assurance that Trust assets are  safeguarded
against loss from  unauthorized  use or disposition,  and that  transactions are
executed in accordance with  management's  authorization  in conformity with the
Agreement,  and are recorded  properly to permit the preparation of the required
financial reports, for the year ended December 31, 2000 is fairly stated, in all
material  respects,  based on the following  criteria  specified in management's
assertion:

     Controls   provide   reasonable   assurance   that  funds   collected   are
     appropriately remitted to the Trustee in accordance with the Agreement.

     Controls provide reasonable assurance that Trust assets are segregated from
     those assets  retained by Providian  National Bank in  accordance  with the
     Agreement.

     Controls provide  reasonable  assurance that expenses incurred by the Trust
     are properly calculated and remitted in accordance with the Agreement.

     Controls  provide  reasonable  assurance  that additions of accounts to the
     Trust are authorized in accordance with the Agreement.

     Controls  provide  reasonable  assurance that removals of accounts from the
     Trust are authorized in accordance with the Agreement.

     Controls provide reasonable assurance that Trust principal collections used
     to amortize  investor's  certificates are calculated in accordance with the
     Agreement.

     Controls provide  reasonable  assurance that Monthly Statements and Payment
     Instructions  provided to the Trustee are reviewed by  management  prior to
     delivery.

     Controls provide  reasonable  assurance that Monthly Statements and Payment
     Instructions contain information required by the Agreement.

This report is intended solely for your information.  However,  this report is a
matter of  public  record as a result of being  included  as an  exhibit  to the
report on Form 10-K  prepared  by  Providian  National  Bank and filed  with the
Securities and Exchange  Commission on behalf of the Providian  Master Trust and
its distribution is not limited.

                                                      /s/ Ernst & Young LLP

March 5, 2001