Granite Construction Incorporated News

Granite Construction Awarded $39.2 Million Highway Widening and Rehabilitation Project in California

WATSONVILLE, Calif., July 2 PRNewswire-FirstCall — Granite Construction Incorporated (NYSE: GVA) announced today that Granite Construction Company, a wholly-owned subsidiary, was awarded a $39.2 million contract by the California Department of Transportation to widen an existing 10-mile stretch of Highway 395 in Inyo County.

Granite's work on the state highway in Central California will include the construction of two new lanes and the rehabilitation of the two existing lanes. In addition, Granite will also construct a single-span, concrete bridge, measuring 61 meters long and 12.6 meters wide. The scope of the project includes approximately 228,000 cubic meters of earthwork and approximately 153,000 tons of asphalt concrete.

Granite is scheduled to begin work in September, 2008 with an estimated completion date of June, 2010.

About Granite

Granite Construction Incorporated is a member of the S&P 400 Midcap Index, the Domini 400 Social Index and the Russell 2000. Granite Construction Company, a wholly owned subsidiary, is one of the nation's largest diversified heavy civil contractors and construction materials producers. Granite Construction Company serves public and private sector clients through its offices and subsidiaries nationwide. For the 5th straight year, Granite was named to FORTUNE'S List of 100 Best Companies to Work For. For more information about Granite, please visit their website at http://www.graniteconstruction.com.

SOURCE Granite Construction Incorporated

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