Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          03-356-11-19  01-301704                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  82%         100%                             
01-MEN-101-5.7/9.2                    Federal Project:                                  
                                     ACNH-P101(969)                                     
                                                                                        
                                                                                        
Progress payment No. 31            Payment period ending: 12-19-03                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE, CA 950775085                                                               
                                                                                        
                                                                                        
Escrow No.  01810                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      13,556,661.07       21,600.00                      
2.a. Extra Work                       2,933,130.94      623,748.01                      
  b. Adjustment Comp.                   172,168.12       -9,657.62                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention       16,661,960.13      635,690.39                      
5. Mobilization                       1,453,000.00            0.00                      
6. Total Work Completed   18,114,960.13                                                 
7. Deductions                          -302,714.85     -159,359.79                      
8. a.Contract Retentions               -833,098.01      -31,784.52                      
   b. Unsatisfactory Prog.              -82,792.22      -31,784.52                      
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           16,896,355.05      412,761.56                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       833,090.00                                                  
12. Net Pymt. this Estimate                             412,761.56