Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          04-237-06-49  06-388204                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  89%          80%                             
06-TUL-99-30.1/31.0                    Federal Project:                                 
                                     ACNH-P099(448)                                     
                                                                                        
                                                                                        
Progress payment No. 04            Payment period ending: 08-20-04                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       1,724,959.76      351,582.89                      
2.a. Extra Work                          77,831.45       58,379.49                      
  b. Adjustment Comp.                   -10,835.93      -12,010.93                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        1,791,955.28      397,951.45                      
5. Mobilization                          15,000.00            0.00                      
6. Total Work Completed    1,806,955.28                                                 
7. Deductions                           -20,000.00      -10,000.00                      
8. a.Contract Retentions                -89,597.76      -19,897.57                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            1,697,357.52      368,053.88                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             368,053.88