Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          04-328-17-14  03-3546U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 PEP        SAT                                
03-SAC-80-9.1/17.9                    Federal Project:                                  
                                     ACNH-080-3(227)                                    
                             I-080-3(227)                                               
                             ACBH-080-3(227)                                            
Progress payment No. 29            Payment period ending: 11-19-04                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01961                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      27,511,283.24      -80,348.55                      
2.a. Extra Work                       1,291,264.21       97,876.56                      
  b. Adjustment Comp.                 1,425,715.79      -16,475.46                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention       30,228,263.24        1,052.55                      
5. Mobilization                       1,838,000.00            0.00                      
6. Total Work Completed   32,066,263.24                                                 
7. Deductions                          -186,510.17            0.00                      
8. a.Contract Retentions             -1,511,413.16          -52.63                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           30,368,339.91          999.92                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow     1,511,360.00                                                  
12. Net Pymt. this Estimate                                 999.92