Granite Construction Awarded $44.9 Million Road Construction Project in California

WATSONVILLE, Calif., Feb. 7, 2006 -- Granite Construction Incorporated announced today that Granite Construction Company, a wholly-owned subsidiary, has been awarded a $44.9 million road construction project by the California Department of Transportation. The project is located on Highway 14 approximately 50 miles east of Bakersfield.

The project includes 10.2 miles of road construction to convert a 2 lane, conventional highway to a 4 lane, divided expressway. Scope of the work will include 1,266,000 cubic yards of roadway excavation and 3 bridges and 14 box culverts totaling approximately 9,000 cubic yards of concrete. Materials for the job also include 280,000 tons of class II aggregate base which and 226,000 tons of asphalt concrete will be supplied by various Granite Construction Company materials facilities. Construction on the project will be performed by Granite's Bakersfield Branch.

The project is expected to begin in February 2006, with completion estimated for October 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 www.graniteconstruction.com.