Dept. of Trans.       SEMI-FINAL   Serial No.  Contract No.                             
                                          04-044-15-13  01-441904                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
01-MEN-101-45.2/47.4                    Federal Project:                                
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 04            Payment period ending: 10-31-03                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.         420,622.00            0.00                      
2.a. Extra Work                           8,492.41       -9,766.26                      
  b. Adjustment Comp.                                                                   
3. Materials on Hand                                                                    
4. Earned Subject to Retention          429,114.41       -9,766.26                      
5. Mobilization                                                                         
6. Total Work Completed      429,114.41                                                 
7. Deductions                            -2,000.00       10,000.00                      
8. a.Contract Retentions                -10,280.80            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.          10,280.80            0.00                      
9. Total pay to Contractor              427,114.41          233.74                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                                 233.74