LOS ANGELES, CA and HANOI, VIETNAM -- (MARKET WIRE) -- 06/27/2006 -- Vietnam's Hai Van Pass Tunnel, opened in June 2005, has received the United States' Global Technique Awards Association's highest honor. An article posted on the Thanh Nien News website (http://www.thanhniennews.com/society/?catid=3&newsid=16848) on June 20th discussed the award. As a Subcontractor for the Joint Operation of CIENCO 1 - LUNGLO - VINAWACO, Cavico Corporation (PINKSHEETS: CVCP) was responsible for the construction of the road and bridges leading from the south of the tunnel to the main road in Da Nang province. The value of this project, which was completed in December of 2003, to Cavico was USD $1.50 million. The project was completed in December 2003.

The 6.3km tunnel, which links the central province of Thua Thien-Hue to the north and Danang city to the south via National Highway No 1A, is one of the 30 largest tunnels in the world. The Global Technique Awards Association has deemed the project one of the 24 most outstanding structural accomplishments existing in the world today.

The project's investor was the Vietnamese Ministry of Transport and was managed by the Transport Ministry's Project Management Unit 85 (PMU 85). The project was designed by a joint venture between Nippon Koei Company Limited Japan, Louis Berger International Inc., USA, and the Transport Engineering Design Corporation (TEDI) of Vietnam.

The project was constructed by the following main contractors: a Vietnam-Japan joint venture, Hazama-Cienco 6 for package 1A and a joint venture between Korea's Dong Ah construction company and Vietnam's Song Da Construction Corporation for package 1B.

More information about Cavico is available on the company's website at: http://www.cavicovn.com.

About Cavico Corporation

Cavico (www.cavicovn.com), founded in 2000, is a major infrastructure construction, infrastructure investment, and natural resources conglomerate headquartered in Hanoi, Vietnam. The company 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 often include top multi-national corporations as well as government organizations. The company currently employs more than 3,000 people.

Vietnam's transition to a market economy has generated rapid economic growth. The country's impending ascension to the World Trade Organization is likely to provide an additional boost to economic growth and a further acceleration in the country's current infrastructure construction boom. The aggressive development of Vietnam's energy, transportation, and urban infrastructure is absolutely essential to the country's ability to compete internationally, and this aggressive build-out is creating huge growth opportunities for infrastructure construction companies such as Cavico.

"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.