This week's giveaway is in the EJB and other Java EE Technologies forum. We're giving away four copies of EJB 3 in Action and have Debu Panda, Reza Rahman, Ryan Cuprak, and Michael Remijan on-line! See this thread for details.
This might not be the best approach. The call to PreparedStatement.execute() might actually retrieve a number of records from the database and buffer them, at which point you ask for only one record. This wastes the database's time and network bandwidth. Most databases provide SQL syntax to limit the results return for a query - you would be better off using such a mechanism. One caveat though - the SQL mechanism is not database independent.