Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          01-110-11-48  04-228264                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  74%          85%                             
04-CC-4-R14.6/23.0                    Federal Project:                                  
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 24            Payment period ending: 04-20-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01272                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      10,987,151.59      462,229.84                      
2.a. Extra Work                         456,188.78       17,715.20                      
  b. Adjustment Comp.                   196,782.98       -8,703.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention       11,640,123.35      471,242.04                      
5. Mobilization                       1,627,000.00            0.00                      
6. Total Work Completed   13,267,123.35                                                 
7. Deductions                            -3,434.59            0.00                      
8. a.Contract Retentions               -582,006.17      -23,562.10                      
   b. Unsatisfactory Prog.              -38,291.70      -23,562.10                      
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           12,643,390.89      424,117.84                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       582,000.00                                                  
12. Net Pymt. this Estimate                             424,117.84