Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          02-353-14-27  01-301704                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  75%          67%                             
01-MEN-101-5.7/9.2                    Federal Project:                                  
                                     ACNH-P101(969)                                     
                                                                                        
                                                                                        
Progress payment No. 18            Payment period ending: 12-20-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE, CA 950775085                                                               
                                                                                        
                                                                                        
Escrow No.  01810                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      10,836,173.33      286,735.97                      
2.a. Extra Work                         554,900.41       73,718.26                      
  b. Adjustment Comp.                    59,292.60            0.00                      
3. Materials on Hand                     29,903.10       29,903.10                      
4. Earned Subject to Retention       11,480,269.44      390,357.33                      
5. Mobilization                       1,453,000.00            0.00                      
6. Total Work Completed   12,903,366.34                                                 
7. Deductions                           -34,600.00            0.00                      
8. a.Contract Retentions               -574,013.47      -19,517.86                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           12,324,655.97      370,839.47                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       574,010.00                                                  
12. Net Pymt. this Estimate                             370,839.47