SOURCE: Cavico Corporation

January 10, 2007 11:00 ET

Cavico Wins New US $1 Million Roadwork Contract

Cavico's Record of On-Time and On-Budget Completion Secures Additional Work at the US $260 Million Song Tranh 2 Hydropower Project

LOS ANGELES, CA and HANOI, VIETNAM -- (MARKET WIRE) -- January 10, 2007 -- Cavico Corporation (PINKSHEETS: CVCP), a Vietnamese company working in the fields of infrastructure development, including the construction of hydropower facilities, dams, bridges, roads, mines and urban buildings throughout Vietnam and the Pacific Rim, announced today that its wholly owned subsidiary, Cavico Bridge & Tunnel, has secured a contract to provide construction services for the 'Package Number 4, Flood Prevention Road DT 616 and Nuoc Xa Bridge Construction.' The value of the new contract is estimated at US $1 million.

The project is located in Bac Tra My, Quang Nam Province, 43 miles West of Da Nang City. "This package plays an important role in completing the other works in the $260 million USD Song Tranh 2, 190 MW hydropower plant project," commented Mr. Ha Quang Bui, CEO of Cavico. The package includes building an additional bridge 112m long and a road 1.5 km in length. Company officials estimate the project should be completed within twelve months. Cavico will commence work on the contract package beginning this month.

Bui added, "Cavico's ability to complete its projects on-time positively impacts our efforts to win new contracts and secure repeat business from our clients. We are proud of our employees and their work ethic. We know that Cavico's strength lies in its people, and we will continue to grow and prosper through their dedication and hard work."

About Cavico Corporation

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 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

A profile for investors can be accessed at

For investor relations questions, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail:, or visit or Investors can also contact Mark Moline at (760) 458-4899, e-mail:

Safe-Harbor Statement

This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Cavico Corporation to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Cavico Corporation assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products and services, inability to deliver products and services when promised, inability of potential customers to pay for ordered products and services, and political and economic risks inherent in international trade.

Contact Information

  • Contacts:

    Cavico Corporation Investor Relations
    Hawk Associates, Inc.
    Frank N. Hawkins, Jr. or Julie Marshall
    Phone: (305) 451-1888
    E-mail: Email Contact

    Media and Communications
    Cinapsys, Inc.
    Mark Moline
    (760) 458-4899
    Email Contact

    For Cavico Corporation
    Timothy Pham
    (714) 843-5456
    Email Contact