Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          01-024-08-01  08-4281U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  90%          75%                             
08-RIV-86-R2.4/R10.8                    Federal Project:                                
                                     ACNH-P086(58)                                      
                                                                                        
                                                                                        
Progress payment No. 24            Payment period ending: 01-20-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01212                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      25,738,969.47      978,959.31                      
2.a. Extra Work                       2,495,077.64       16,397.97                      
  b. Adjustment Comp.                   213,043.75     -100,099.52                      
3. Materials on Hand                     88,810.92      -44,180.86                      
4. Earned Subject to Retention       28,535,901.78      851,076.90                      
5. Mobilization                         600,342.00            0.00                      
6. Total Work Completed   29,047,432.86                                                 
7. Deductions                            -1,866.25            0.00                      
8. a.Contract Retentions             -1,426,795.09      -42,553.85                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           27,707,582.44      808,523.05                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow     1,300,000.00                                                  
12. Net Pymt. this Estimate                             808,523.05