Granite Construction Awarded $181 Million Design/Build Highway Project in Texas

Granite Construction Incorporated (NYSE:GVA) announced today that it has been issued notice to proceed on a $181 million contract by the North Texas Tollway Authority to construct Section 6 of the new Chisholm Trail Parkway. Granite will book the project into backlog during the fourth quarter of 2011.

The project consists of extending State Highway 121 from Fort Worth, Texas south 13 miles to Cleburne, Texas. The contract calls for the construction of a divided two-lane tollway with passing lanes, ramps at proposed cross streets, and 19 bridges. Scope of the work also includes drainage elements, illumination, striping and signage, electronic tolling, intelligent transportation systems, fencing, utility relocation, guard rails, and landscaping.

Construction work is estimated to begin in March of 2012 and be completed by April 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 Company was named one of the World’s Most Ethical Companies. For more information about Granite, please visit its website at graniteconstruction.com.