Dept. of Trans.       FINAL   Serial No.  Contract No.                                  
                                          04-072-15-33  01-194134                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
01-MEN-20-43.0/44.1                    Federal Project:                                 
01-LAK-20-0.0/0.6                                     NH-L20                            
                                                                                        
                                                                                        
Progress payment No. 27            Payment period ending: 01-22-03                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE, CA 950775085                                                               
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       3,439,131.33      -37,989.62                      
2.a. Extra Work                       1,313,443.52       13,032.80                      
  b. Adjustment Comp.                    30,641.81            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        4,783,216.66      -24,956.82                      
5. Mobilization                         365,000.00            0.00                      
6. Total Work Completed    5,148,216.66                                                 
7. Deductions                            -1,885.75       10,614.25                      
8. a.Contract Retentions               -224,677.49            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.         224,677.49            0.00                      
9. Total pay to Contractor            5,146,330.91      -14,342.57                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             -14,342.57