Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          04-343-07-50  03-3A21U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
03-NEV-80-17.1/28.1                    Federal Project:                                 
                                     ACIM-080-4(169)                                    
                             ACIM-080-4(169)                                            
                                                                                        
Progress payment No. 70            Payment period ending: 09-14-04                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01742                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      79,120,322.58      623,850.96                      
2.a. Extra Work                      13,820,348.24       47,645.41                      
  b. Adjustment Comp.                 3,037,711.19       -3,000.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention       95,978,382.01      668,496.37                      
5. Mobilization                       7,500,000.00            0.00                      
6. Total Work Completed  103,478,382.01                                                 
7. Deductions                          -219,043.54      200,000.00                      
8. a.Contract Retentions             -4,670,331.00            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.       4,670,331.00            0.00                      
9. Total pay to Contractor          103,259,338.47      868,496.37                      
10. Reduction Amt to Escrow          -4,500,000.00            0.00                      
11. Payment to Escrow     4,500,000.00                                                  
12. Net Pymt. this Estimate                             868,496.37