Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          08-298-13-08  07-127214                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  48%          34%                             
07-LA-138-51.9/52.5                    Federal Project:                                 
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 03            Payment period ending: 10-20-08                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       2,117,806.43    1,174,019.36                      
2.a. Extra Work                                                                         
  b. Adjustment Comp.                    -7,311.02       -8,432.80                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        2,110,495.41    1,165,586.56                      
5. Mobilization                         101,240.55            0.00                      
6. Total Work Completed    2,211,735.96                                                 
7. Deductions                                                                           
8. a.Contract Retentions               -105,524.77      -14,841.07                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            2,106,211.19    1,150,745.49                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                           1,150,745.49