Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          03-324-08-34  02-364304                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
02-SIS-5-2.7/R11.4                    Federal Project:                                  
                                     ACIM-005-9(156)                                    
                             STP-P089(74)                                               
                                                                                        
Progress payment No. 41            Payment period ending: 10-20-03                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01647                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      17,394,384.94      -33,415.22                      
2.a. Extra Work                       3,281,457.60            0.00                      
  b. Adjustment Comp.                   365,733.78        7,280.22                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention       21,041,576.32      -26,135.00                      
5. Mobilization                       1,880,088.00            0.00                      
6. Total Work Completed   22,921,664.32                                                 
7. Deductions                           -23,750.00      -15,000.00                      
8. a.Contract Retentions             -1,053,385.57            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.       1,053,385.57    1,053,385.57                      
9. Total pay to Contractor           22,897,914.32    1,012,250.57                      
10. Reduction Amt to Escrow          -1,053,380.00   -1,053,380.00                      
11. Payment to Escrow     1,053,380.00                                                  
12. Net Pymt. this Estimate                             -41,129.43