Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          07-360-16-20  03-1A5304                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  85%          59%                             
03-NEV-20-0.0/R4.1                    Federal Project:                                  
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 15            Payment period ending: 12-20-07                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      25,423,654.17    1,596,884.01                      
2.a. Extra Work                         471,917.04      170,433.82                      
  b. Adjustment Comp.                   -17,068.00       30,116.00                      
3. Materials on Hand                     13,796.83       -8,876.28                      
4. Earned Subject to Retention       25,892,300.04    1,788,557.55                      
5. Mobilization                       3,320,000.00            0.00                      
6. Total Work Completed   29,198,503.21                                                 
7. Deductions                           -28,000.00      -23,000.00                      
8. a.Contract Retentions             -1,294,615.00      -89,427.88                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           27,889,685.04    1,676,129.67                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                           1,676,129.67