SOURCE: Cavico Corp.

Cavico Corp.

October 14, 2010 09:00 ET

Cavico Completes Construction at Dong Nai 3 Hydropower Plant

HANOI, VIETNAM--(Marketwire - October 14, 2010) -  Cavico Corp. (NASDAQ: CAVO), a leading infrastructure development company based in Vietnam, today announced that its wholly owned subsidiary, Cavico Hydropower has successfully completed all construction activities at the Dong Nai 3 Hydropower Plant.

Cavico Hydropower has started the handover process to the project owner, Electricity of Vietnam (EVN).

In 2007, Cavico Hydropower began excavating and constructing a headrace tunnel at this project that is 655 meters long and 8 meters wide, a 73 meters long incline tunnel and other supporting needs associated with this tunnel. The Dong Nai 3 Hydropower plant is located on the Dong Nai River, in the Quang Khe village located in Dac Nong province, which is approximately 174 miles north of Ho Chi Minh City. Dong Nai 3 has a twin unit with a capacity of 180 Megawatts and is expected to provide approximately 589 million Kilowatts of electricity to the region annually.

"We are very pleased with the completion of the project. Cavico is pleased to have completed this project in a safe and timely manner," commented Mr. Hai Thanh Tran, vice president of Cavico Corp. "Once this hand-over is completely finalized, we will shift our efforts to generating revenues on the Dong Nai 4 Hydropower Plant."

About Cavico Corp.
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 3,000 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 full-time, part-time, and seasonal workers. 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, the Company's ability to complete projects in the time frame specified; anticipated revenue from the projects 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.

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