March 16, 2011

Granite Construction Named to Ethisphere's 2011 "World's Most Ethical Companies" For 2nd Year in a Row

Award Recognizes Exceptional Ethical Leadership Actively Upheld within Various Industries

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite Construction Incorporated (NYSE: GVA) announced today that it has been recognized by the Ethisphere Institute as one of the 2011 World's Most Ethical Companies. Out of a record number of nominations for the award, Granite secured a hard-earned spot on the list by going the extra mile and implementing upright business practices and initiatives that are instrumental to the company's success, benefit the community, and raise the bar for ethical standards within the industry.

"Granite places a strong value on corporate responsibility. Being named to Ethisphere's 2011 World's Most Ethical Companies list is a testament to the solid foundation we have in place," said James H. Roberts, Granite President and Chief Executive Officer. "We are committed to sharing an unwavering dedication to the highest ethical standards from employees at every level of our organization."

This is the fifth year Ethisphere, a think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability, has published the WME rankings, which appear in Ethisphere Magazine's Q1 issue.

Ethisphere reviewed thousands of companies and evaluated a record number of applications utilizing its propriety methodology through in-depth research and multi-step analysis, naming 110 companies that surpassed their industry peers to this year's World's Most Ethical Companies list. The 2011 list features companies in 38 industries including 43 companies headquartered outside the United States.

"As companies strive to maintain a competitive advantage, good ethics translate into better business, and better business means better bottom lines. Granite recognizes the important role that principled practices play in brand reputation, which ultimately is the most valuable asset for a corporation," said Alex Brigham, Executive Director of the Ethisphere Institute. "Each year, the competition gets more intense for the World's Most Ethical Companies and this year was no exception with a record number of organizations vying for this distinguished honor. Ethisphere congratulates Granite on being one of the World's Most Ethical Companies for 2011."

The methodology for the WME ranking includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.

Read about the methodology and view the complete list of the 2011 World's Most Ethical Companies at http://ethisphere.com/worlds-most-ethical-companies-rankings/.

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. For more information about Granite, please visit its website at www.graniteconstruction.com.

About Ethisphere Institute

The research-based Ethisphere Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. The Institute's associated membership groups, the Ethisphere Council and Business Ethics Leadership Alliance, are forums for business ethics that includes over 200 leading corporations, universities and institutions. These groups are dedicated to the development and advancement of members through increased efficiency, innovation, tools, mentoring, advice, and unique career opportunities. Ethisphere Magazine, which publishes the globally recognized World's Most Ethical Companies Ranking™, is the quarterly publication of the Institute. Ethisphere provides the only third-party verifications of compliance programs and ethical cultures, Ethics Inside Certification®, Anti-Corruption Leader Verification and Compliance Program Verification. More information on the Ethisphere Institute, including ranking projects and membership, can be found at www.ethisphere.com.

Granite
Jacque Fourchy, 831-761-4741
or
Ethisphere
Emily Parker, 212-446-1889

Source: Granite Construction Incorporated

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