Granite Construction to Construct World Trade Center Transportation Hub

Company enters in joint venture with Fluor to build transit hub for PATH Rail System


WATSONVILLE, Calif., Jan. 26 /PRNewswire-FirstCall/ -- Granite Construction Incorporated (NYSE: GVA) announced today that its subsidiary, Granite Construction Northeast, Inc., in joint venture with Fluor Corporation, Inc., Slattery Skanska, Inc. and Bovis Lend Lease LMB, Inc. (Phoenix Constructors, Joint Venture) has been awarded a project to construct the permanent World Trade Center Transportation Hub in Lower Manhattan, New York, by the Port Authority of New York and New Jersey. The total value of the contract is estimated to be in excess of $1.0 billion. Granite's portion of the contract is 20%.

The project includes construction management services and general contracting for the central terminal and main concourse which will serve as a gateway to Lower Manhattan. World-renowned architect Santiago Calatrava designed the facility's station.

"We are excited and honored to be a part of this historic project," said Michael F. Donnino, Senior Vice President and Heavy Construction Division Manager at Granite. "This facility will include highly visible connections to all mass transit services, which will enable passengers to connect quickly and easily to subway, bus, PATH services, and the rest of the World Trade Center site development. The PATH rail system provides the primary transit link to Lower Manhattan from New Jersey."

Prior to September 11, 2001, more than 150,000 pedestrians traveled through the World Trade Center complex each day.

Work is expected to begin in early 2006 with beneficial occupancy expected in 2009.

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.

[PR Newswire -- 01/30/06]