Dept. of Trans.       SEMI-FINAL   Serial No.  Contract No.                             
                                          08-301-10-56  03-1A5304                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
03-NEV-20-0.0/R4.1                    Federal Project:                                  
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 25            Payment period ending: 08-29-08                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      30,880,413.07       50,755.46                      
2.a. Extra Work                         820,156.65       51,324.45                      
  b. Adjustment Comp.                   276,607.67         -461.83                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention       31,977,177.39      101,618.08                      
5. Mobilization                       3,320,000.00            0.00                      
6. Total Work Completed   35,297,177.39                                                 
7. Deductions                           -10,000.00            0.00                      
8. a.Contract Retentions             -1,577,564.47            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.       1,577,564.47            0.00                      
9. Total pay to Contractor           35,287,177.39      101,618.08                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             101,618.08