Granite Awarded $52 Million Highway Project in Southern California

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite Construction Incorporated (NYSE:GVA) announced today that it has been awarded a $52 million contract by the California Department of Transportation to widen approximately six miles of the existing US Highway 101. Granite will book the project into backlog during the first quarter of 2012.

This project continues the efforts to widen the critical Route 101 between Santa Barbara and Ventura counties. In addition, the project will provide the neighboring community with a safe bike passageway and beach access.

The scope of work includes concrete and asphalt paving, concrete barriers, bridge widening, earthwork and guardrail installation. Granite's Santa Paula quarry will supply the 26,000 tons of hot-mix asphalt needed for the project.

Construction is estimated to begin in the first quarter of 2012 and be completed in the second quarter of 2014.

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. In 2011 the Ethisphere Institute named Granite one of the World's Most Ethical Companies. For more information about Granite, visit graniteconstruction.com.

Granite Construction Incorporated
Jacque Fourchy, 831-761-4741

Source: Granite Construction Incorporated

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