Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          03-204-06-31  03-3A21U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  77%          80%                             
03-NEV-80-17.1/28.1                    Federal Project:                                 
                                     ACIM-080-4(169)                                    
                             ACIM-080-4(169)                                            
                                                                                        
Progress payment No. 42            Payment period ending: 07-18-03                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01742                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      58,026,800.68    4,843,629.14                      
2.a. Extra Work                      10,325,799.47      711,825.57                      
  b. Adjustment Comp.                   892,739.49   -1,206,258.50                      
3. Materials on Hand                  1,211,222.88       54,943.27                      
4. Earned Subject to Retention       70,456,562.52    4,404,139.48                      
5. Mobilization                       7,500,000.00            0.00                      
6. Total Work Completed   76,745,339.64                                                 
7. Deductions                           -86,633.00            0.00                      
8. a.Contract Retentions             -3,522,828.13     -220,206.98                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           74,347,101.39    4,183,932.50                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow     3,522,820.00                                                  
12. Net Pymt. this Estimate                           4,183,932.50