Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          08-329-07-42  06-0E6904                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  61%          47%                             
06-KER-395-0.1/T14.6                    Federal Project:                                
                                     ACHS-P395(219)                                     
                             NH-P395(219)                                               
                                                                                        
Progress payment No. 03            Payment period ending: 11-20-08                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       3,724,301.75    2,611,728.58                      
2.a. Extra Work                          15,052.12        9,917.61                      
  b. Adjustment Comp.                  -349,196.50     -308,889.56                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        3,390,157.37    2,312,756.63                      
5. Mobilization                         432,188.00      108,047.00                      
6. Total Work Completed    3,822,345.37                                                 
7. Deductions                            -1,080.00         -703.20                      
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            3,821,265.37    2,420,100.43                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                           2,420,100.43