Dept. of Trans.       SEMI-FINAL   Serial No.  Contract No.                             
                                          03-036-14-04  06-407704                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
06-KER-202-8.9/12.1                    Federal Project:                                 
                                     ACST-S202(4)                                       
                             P-S202(4)                                                  
                                                                                        
Progress payment No. 20            Payment period ending: 12-31-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01816                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       5,605,882.17       24,529.80                      
2.a. Extra Work                         440,284.93       14,486.50                      
  b. Adjustment Comp.                    16,328.16       -9,190.84                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        6,062,495.26       29,825.46                      
5. Mobilization                         620,000.00            0.00                      
6. Total Work Completed    6,682,495.26                                                 
7. Deductions                           -10,000.00            0.00                      
8. a.Contract Retentions               -300,185.36            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.         300,185.36            0.00                      
9. Total pay to Contractor            6,672,495.26       29,825.46                      
10. Reduction Amt to Escrow            -200,000.00            0.00                      
11. Payment to Escrow       200,000.00                                                  
12. Net Pymt. this Estimate                              29,825.46