Dept. of Trans.       SUPPLEMENTAL   Serial No.  Contract No.                           
                                          03-346-10-05  03-3A21U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  93%          90%                             
03-NEV-80-17.1/28.1                    Federal Project:                                 
                                     ACIM-080-4(169)                                    
                             ACIM-080-4(169)                                            
                                                                                        
Progress payment No. 50            Payment period ending: 11-20-03                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01742                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      74,052,243.89      111,765.25                      
2.a. Extra Work                      11,234,057.62       56,648.84                      
  b. Adjustment Comp.                 2,211,642.07      -28,927.20                      
3. Materials on Hand                     76,806.13       76,806.13                      
4. Earned Subject to Retention       87,574,749.71      216,293.02                      
5. Mobilization                       7,500,000.00            0.00                      
6. Total Work Completed   94,997,943.58                                                 
7. Deductions                          -152,753.54            0.00                      
8. a.Contract Retentions             -4,378,737.49      -10,814.66                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           90,543,258.68      205,478.36                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow     4,378,730.00                                                  
12. Net Pymt. this Estimate                             205,478.36