Dept. of Trans.       FINAL   Serial No.  Contract No.                                  
                                          04-210-14-40  01-291704                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
01-MEN-1-3.8/3.9                    Federal Project:                                    
                                     ACST-P001(496)                                     
                             P-P001(496)                                                
                                                                                        
Progress payment No. 10            Payment period ending: 09-22-03                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.         927,128.11            0.00                      
2.a. Extra Work                          58,190.10        1,455.58                      
  b. Adjustment Comp.                    -4,953.50            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention          980,364.71        1,455.58                      
5. Mobilization                         104,800.00            0.00                      
6. Total Work Completed    1,085,164.71                                                 
7. Deductions                                 0.00       10,000.00                      
8. a.Contract Retentions                -47,223.30            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.          47,223.30            0.00                      
9. Total pay to Contractor            1,085,164.71       11,455.58                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              11,455.58