Granite Construction Awarded $23 Million Highway Project in California

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite Construction Incorporated (NYSE:GVA) announced today that Granite Construction Company has been awarded a $23 million contract by Caltrans to rehabilitate approximately four miles of Highway 99 through Madera in the Central San Joaquin Valley. Granite will book the project into its second quarter 2011 backlog.

The scope of the project will consist of the rehabilitation of Highway 99 using asphalt and concrete paving as well as improvements to existing electrical, signage, striping and guard rails.

This is the first project to be awarded under Caltrans' Design-Build Demonstration Program, a pilot program for the design-build method of procurement by California's regional and state transportation agencies. For more information, please visit Caltrans' website at www.dot.ca.gov/hq/oppd/designbuild.

Design work on the project is currently underway and construction work is expected to be complete by spring 2013.

About Granite

Granite Construction Incorporated is a member of the S&P 400 Midcap Index, the FTSE KLD 400 Social Index and the Russell 2000 Index. 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 more information about Granite, please visit its website at www.graniteconstruction.com.

Granite Construction Incorporated
Jacque Fourchy, 831-761-4741

Source: Granite Construction Incorporated

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