Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          02-233-11-57  01-3514U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  87%          61%                             
01-MEN-1-90.9/105.6                    Federal Project:                                 
                                     ACST-P001(462)                                     
                             P-P001(462)                                                
                                                                                        
Progress payment No. 08            Payment period ending: 08-20-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE, CA 950775085                                                               
                                                                                        
                                                                                        
Escrow No.  01801                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       2,971,925.04      463,279.47                      
2.a. Extra Work                         261,388.23            0.00                      
  b. Adjustment Comp.                    -4,791.77            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        3,228,521.50      463,279.47                      
5. Mobilization                         375,000.00            0.00                      
6. Total Work Completed    3,603,521.50                                                 
7. Deductions                          -210,000.00     -200,000.00                      
8. a.Contract Retentions               -161,426.08      -23,163.98                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            3,232,095.42      240,115.49                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       161,420.00                                                  
12. Net Pymt. this Estimate                             240,115.49