Cavico Corp. Received Approval to Invest and Build Ngo Sai Ha Tay Urban City.

HANOI, Vietnam -- Cavico Corp. (Cavico) OTCBB:CVIC News) today announced that CAVICO LAND DEVELOPMENT AND INVESTMENT, its wholly own subsidiary, has received approval from Ha Tay People's Committee to participate as the principal investor and constructor for Ngo Sai urban city, eleven miles southwest of Hanoi. Ngo Sai city lies on 6-lane Lang-Hoa Lac highway which is currently under construction and is estimated to extend 19 miles long.

The urban city construction is expected to extend from 2008 to 2013, at a total investment cost of $93.75 million with net profit anticipated to be around $25 million.

Further, Vietnam has made it a priority to expand Hanoi city westward. Ha Tay province will become part of Hanoi capital with the entire project ultimately within Hanoi capital's boundary. Just like My Dinh, An Khanh, and Tuan Chau, Ngo Sai city will be considered a state-of-the-art city and will benefit from geographical proximity to this announced expansion. CAVICO LAND DEVELOPMENT AND INVESTMENT is participating in a formal evaluation regarding the purchase and development of an additional 100 hectares within this designated area of expansion.

Hai Thanh Tran, Vice President of Cavico stated: "Due to an increasing demand for real estate and office space in Vietnam, we have recently initiated our focus on real estate development projects such as Ngo Sai, Chien Ngan Son La, and Cavico Tower."

About Cavico Corp. (OTCBB: CVIC)

Cavico 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. Headquartered in Hanoi, with 3000 employees at projects worldwide, the company has 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.

Forward-Looking Statements

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