Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          08-330-08-08  08-0K6304                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  55%          49%                             
08-RIV-177-0.0/27.0                    Federal Project:                                 
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 02            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.       1,455,338.85    1,444,438.85                      
2.a. Extra Work                                                                         
  b. Adjustment Comp.                   -81,417.14      -81,417.14                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        1,373,921.71    1,363,021.71                      
5. Mobilization                         266,000.00      266,000.00                      
6. Total Work Completed    1,639,921.71                                                 
7. Deductions                                                                           
8. a.Contract Retentions                -68,696.09      -67,606.09                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            1,571,225.62    1,561,415.62                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                           1,561,415.62