Cavico Signs $9.43 Million Tunnel Construction Contract for Huoi Quang Hydropower Plant.

HANOI, Vietnam -- Cavico Corp. (Cavico) (OTCBB:CVIC) today announced that Cavico Transportation, its wholly own subsidiary, has signed a contract for tunnel construction at Huoi Quang Hydropower Plant. The value of the contract is estimated to be approximately $9.43 million.

Huoi Quang Hydropower Plant is expected to generate 520 megawatts of power upon completion. It is anticipated to be one of the four largest hydropower plants in Vietnam. The other three large hydropower plants are Son La, Hoa Binh, and Lai Chau. Huoi Quang will be built on Da River in Muong La and Than Uyen villages in Lai Chau province, 280 miles northwest of Hanoi.

Electronic of Vietnam (EVN) has announced its intention to invest $630 million in the Huoi Quang Hydropower Plant. The plant, which was named in Vietnam's Governmental Agenda for electricity expansion encompassing 2006 to 2015, is expected to be in operation by 2012. The 2-unit plant will generate an average of 1.84 billion kilowatts per year and will ease the shortage of electricity in the country.

Cavico Transportation has initiated the process of transporting both equipment and personnel to the Huoi Quang hydropower plant site. Upon completion of this contract Cavico Transportation expects to receive additional works on this project.

Public filings for Cavico Corp. can be found at http://www.sec.gov.

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. 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 

The statements contained in this Release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including without limitation, statements regarding the Company's expectations, hopes, beliefs, intentions or strategies regarding the future. These forward-looking statements are based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the Company's ability to successfully and timely complete construction projects; the Company's ability to convert backlog into revenue; the potential delay, suspension, termination, or reduction in scope of a construction project; the continuing validity of the underlying assumptions and estimates of total forecasted project revenues, costs and profits and project schedules; the outcomes of pending or future litigation, arbitration or other dispute resolution proceedings; the availability of borrowed funds on terms acceptable to the Company; the ability to retain certain members of management; the ability to obtain surety bonds to secure its performance under certain construction contracts; possible labor disputes or work stoppages within the construction industry; changes in governmental appropriations for infrastructure projects; possible changes or developments in worldwide or domestic political, social, economic, business, industry, market and regulatory conditions or circumstances; and actions taken or not taken by third parties, including the Company's customers, suppliers, business partners, and competitors and legislative, regulatory, judicial and other governmental authorities and officials. 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, except as may be required under applicable securities laws.