Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          06-326-11-03  01-297704                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  23%          28%                             
01-MEN-20-33.3/R37.9                    Federal Project:                                
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 06            Payment period ending: 11-20-06                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       2,036,355.50      594,062.40                      
2.a. Extra Work                                                                         
  b. Adjustment Comp.                                                                   
3. Materials on Hand                    147,222.87       -7,136.00                      
4. Earned Subject to Retention        2,183,578.37      586,926.40                      
5. Mobilization                         711,421.50            0.00                      
6. Total Work Completed    2,747,777.00                                                 
7. Deductions                           -13,000.00       -8,000.00                      
8. a.Contract Retentions               -218,357.84      -58,692.64                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            2,663,642.03      520,233.76                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             520,233.76