Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          07-330-12-47  03-1A5304                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  80%          55%                             
03-NEV-20-0.0/R4.1                    Federal Project:                                  
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 14            Payment period ending: 11-20-07                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      23,826,770.16    3,223,303.50                      
2.a. Extra Work                         301,483.22       26,683.06                      
  b. Adjustment Comp.                   -47,184.00            0.00                      
3. Materials on Hand                     22,673.11      -84,164.95                      
4. Earned Subject to Retention       24,103,742.49    3,165,821.61                      
5. Mobilization                       3,320,000.00            0.00                      
6. Total Work Completed   27,401,069.38                                                 
7. Deductions                            -5,000.00       10,000.00                      
8. a.Contract Retentions             -1,205,187.12     -158,291.08                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           26,213,555.37    3,017,530.53                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                           3,017,530.53