Granite Construction Led Joint Venture Awarded $178.0 Million Design-Build Toll Road Project in Texas

WATSONVILLE, Calif., Dec. 1 /PRNewswire-FirstCall/ -- Granite Construction Incorporated (NYSE: GVA) announced today that Granite Construction Company, a wholly-owned subsidiary, in joint venture with J.D. Abrams, LP, a heavy civil construction firm headquartered in Austin, Texas, has been awarded a $178.0 million Design-Build toll road project in the Greater Austin area. Granite's portion of the contract, awarded by the Central Texas Regional Mobility Authority, is 70% or approximately $124.8 million. URS Corporation will serve as lead designer on the project. The joint venture team will operate as Hill Country Constructors.

This project, connecting at the end of US183 and continuing to the San Gabriel River, requires the design and construction of main lanes, frontage roads, and approximately 20 bridges. Project scope includes retaining walls, 1.9 million cubic yards of excavation, 1.3 million cubic yards of embankment, concrete paving, asphalt paving, illumination, signing, toll plazas, administration buildings, landscaping, and striping.

Work will begin in early December 2004 with an estimated completion date of May 2007.

Granite Construction Incorporated is a member of the S&P 400 Index, the Domini 400 Social Index and is the parent company of Granite Construction Company, one of the nation's largest heavy civil contractors and construction materials producers. Granite Construction Company serves both public and private sector clients through its offices nationwide. For more information about Granite, please visit its website at http://www.graniteconstruction.com/

CONTACT: Jacque Underdown of Granite Construction Incorporated,
+1-831-761-4741

Web site: http://www.graniteconstruction.com/




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