Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          03-086-06-47  11-1734U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
11-IMP-98-R0.3/R56.9                    Federal Project:                                
                                     AC-P098(20)                                        
                             STP-P098(20)                                               
                                                                                        
Progress payment No. 19            Payment period ending: 03-06-03                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01878                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       9,454,406.88      347,225.00                      
2.a. Extra Work                         925,965.20       10,030.32                      
  b. Adjustment Comp.                   871,006.00      -69,617.18                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention       11,251,378.08      287,638.14                      
5. Mobilization                          58,016.00            0.00                      
6. Total Work Completed   11,309,394.08                                                 
7. Deductions                           -20,921.00      -10,000.00                      
8. a.Contract Retentions               -548,187.00            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.         548,187.00      548,187.00                      
9. Total pay to Contractor           11,288,473.08      825,825.14                      
10. Reduction Amt to Escrow            -548,180.00     -548,180.00                      
11. Payment to Escrow       548,180.00                                                  
12. Net Pymt. this Estimate                             277,645.14