Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          04-168-11-04  04-0120Q4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  92%          88%                             
04-SF-80-8.0/8.0                    Federal Project:                                    
                                     ACBR-080-1(98)                                     
                             IM-080-1(98)                                               
                                                                                        
Progress payment No. 11            Payment period ending: 06-20-04                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       1,420,826.73      -13,049.11                      
2.a. Extra Work                         423,882.60       44,072.04                      
  b. Adjustment Comp.                   211,136.24            0.00                      
3. Materials on Hand                          0.00      -20,957.00                      
4. Earned Subject to Retention        2,055,845.57       10,065.93                      
5. Mobilization                         141,200.00            0.00                      
6. Total Work Completed    2,197,045.57                                                 
7. Deductions                           -10,000.00            0.00                      
8. a.Contract Retentions               -102,792.28         -503.30                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            2,084,253.29        9,562.63                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                               9,562.63