Meadow Valley Corp. Wins $23.2 Million in New Contracts

Business Wire, Sept 20, 2000

Business Editors

PHOENIX--(BUSINESS WIRE)--Sept. 20, 2000

Meadow Valley Corp. (Nasdaq:MVCO) today announced that it has won new construction contracts with a total value of $23.2 million.

The Nevada Department of Transportation awarded Meadow Valley a $13.9 million contract for the reconstruction of U.S. 95 from the Rainbow Boulevard interchange to the Cheyenne Avenue interchange. The project involves widening the roadway to accommodate high occupancy vehicle (HOV) lanes, modifying entrance ramps and constructing drainage facilities, lighting and sound walls.

Construction is scheduled to begin in October 2000 and to be completed in mid-2001.

The Arizona Department of Transportation awarded Meadow Valley three highway construction jobs valued at a total of $5.6 million, including more than 105,000 tons of asphaltic concrete and related work. These jobs are expected to be completed next year.

Meadow Valley also was awarded a $3.7 million privately funded contract to build roads, storm sewers and other improvements at a site in Utah County. This project also is scheduled to be completed in 2001.

About Meadow Valley

Meadow Valley, based in Phoenix, is engaged in the construction industry as both a contractor and a supplier of construction materials. The company's contracting services specialize in structural concrete construction of highway bridges and overpasses and the paving of highways and airport runways, while the company's materials operations provide concrete, gravel products and asphalt to itself and to other contractors.

The company's current operations are concentrated in Las Vegas, Phoenix and Salt Lake City metropolitan areas and in New Mexico.

The statements contained in this release that are not historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties, including, without limitation, demand and competition for the company's products and services and other risks or uncertainties detailed in the company's Securities and Exchange Commission filings.