Cavico Achieves Tunnel Breakthrough at Dasiat Hydropower Project.

LOS ANGELES & HANOI, Vietnam -- Cavico Corp. ("Cavico" or "the Company") (OTCBB: CVIC), a leading infrastructure development company in Vietnam, today announced that the Company's majority owned subsidiary, Cavico Hydropower Construction ("Cavico Hydropower"), has achieved a breakthrough on the headrace tunnel at the Dasiat hydropower project.

The breakthrough was achieved October 18 after 27 months of work. The headrace tunnel is 1.44 miles long and 91 inches in diameter. Cavico Hydropower provided construction services and supplied equipment for waterways including surge tanks, intakes, the headrace tunnel, and other construction work surrounding the valve house. Cavico will now focus on completing the concrete finish work for the tunnel. The services provided by Cavico Hydropower are valued at approximately $4.36 million. The $14.5 million Dasiat hydropower plant is located on the main flow of Dasiat River, which is downstream from Dong Nai 3 and Dong Nai 4 hydropower plants, in Lam Dong Province, 99 miles from Da Lat City and 155 miles north of Ho Chi Minh City. The hydropower plant has been designed and engineered to provide a capacity of 13.5 megawatts. Southern Hydropower Joint Stock Company, the owner of the Dasiat hydropower project, expects the plant to supply 57.7 million kilowatt-hours of electricity per year.

"We are pleased with the progress achieved at the Dasiat hydropower project. This accomplishment further strengthens Cavico's expertise in successfully completing tunnel construction work at various hydropower plants," commented Mr. Doan Xuan Truong, president of Cavico Hydropower. "We continue to remain committed to complete the remaining work on the project in a timely and efficient manner."

About Cavico Corp. (OTCBB: CVIC)

Cavico Corp. is focused on large infrastructure projects, which include the construction of hydropower facilities, dams, bridges, tunnels, roads, mines and urban buildings. Cavico is also making investments in hydropower facilities, cement production plants and urban developments in Vietnam. The company employs more than 3000 employees on projects worldwide, with offices throughout Vietnam and a satellite office in Australia.

Founded in 2000, Cavico is a major infrastructure construction, infrastructure investment and natural resources conglomerate headquartered in Hanoi, Vietnam. Cavico is highly respected for its core competency in the construction of mission-critical infrastructure including hydroelectric plants, highways, bridges, tunnels, ports and urban community developments. One of the Company's primary competitive advantages is its ability to nurture a project "from concept through completion" with a vertical portfolio of interrelated investment, permitting, design, construction management and facility maintenance services. Cavico's project partners include top multi-national corporations and government organizations. The Company employs more than 3,000 people. For more information, visit http://www.cavicocorp.com. Information on the Company's Web site or any other Web site does not constitute a portion of this release.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to obtain the necessary financing to continue and expand operations, to market its construction services in new markets and to offer construction services at competitive pricing, to attract and retain management, and to integrate and maintain technical information and management information systems; the effects of currency policies and fluctuations, general economic conditions and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. These statements include, without limitation, statements regarding our ability to prepare the Company for growth, the Company's planned expansions, and predictions and guidance relating to the Company's future financial performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.