Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          04-169-17-33  03-3A21U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  96%          93%                             
03-NEV-80-17.1/28.1                    Federal Project:                                 
                                     ACIM-080-4(169)                                    
                             ACIM-080-4(169)                                            
                                                                                        
Progress payment No. 60            Payment period ending: 06-18-04                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01742                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      76,943,085.64      977,093.19                      
2.a. Extra Work                      12,098,596.40      115,591.72                      
  b. Adjustment Comp.                 2,323,746.93      -65,394.19                      
3. Materials on Hand                          0.00      -79,116.90                      
4. Earned Subject to Retention       91,365,428.97      948,173.82                      
5. Mobilization                       7,500,000.00            0.00                      
6. Total Work Completed   98,865,428.97                                                 
7. Deductions                          -172,753.54      -10,000.00                      
8. a.Contract Retentions             -4,568,271.45      -47,408.69                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           94,124,403.98      890,765.13                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow     4,500,000.00                                                  
12. Net Pymt. this Estimate                             890,765.13