Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          04-021-13-22  01-411904                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 PEP        SAT                                
01-LAK-29-11.7/12.1                    Federal Project:                                 
                                     ACST-P027(91)                                      
                             PH-P027(91)                                                
                                                                                        
Progress payment No. 07            Payment period ending: 01-20-04                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.         458,066.67       66,153.81                      
2.a. Extra Work                          36,326.91        5,193.26                      
  b. Adjustment Comp.                                                                   
3. Materials on Hand                                                                    
4. Earned Subject to Retention          494,393.58       71,347.07                      
5. Mobilization                          59,000.00            0.00                      
6. Total Work Completed      553,393.58                                                 
7. Deductions                              -235.23            0.00                      
8. a.Contract Retentions                -24,719.68       -3,567.35                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor              528,438.67       67,779.72                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              67,779.72