MVCO Meadow Valley (MM)

MEADOW VALLEY CORPORATION (NASDAQ:MVCO) announced today that it has been awarded four new heavy construction contracts with a total value of approximately $22.1 million. The awards include: A $19.8 million contract with the Arizona Department of Transportation ("ADOT") to construct a new interchange on I-17 at Dove Valley in northwest Phoenix. Work on this project, which includes earthwork, structures and paving, is scheduled to begin in December 2008 and to be completed in approximately twelve months. The ADOT also awarded Meadow Valley a $1.6 million contract to place rubberized asphaltic concrete on a section of I-17, and a $0.4 million project to repair certain pavement locations on I-17. A $0.3 million private contract in the Las Vegas area. Separately, the Company noted that contract backlog of $150.9 million reported at June 30, 2008 included a $2.5 million design-build contract for Navajo County, Arizona that was not previously announced. About Meadow Valley Meadow Valley Corporation, based in Phoenix, Arizona, is engaged in the construction industry as both a contractor and a supplier of construction materials. The Company's construction services segment specializes in structural concrete construction of highway bridges and overpasses, and the paving of highways and airport runways, primarily in southern Nevada and Arizona. The Company's construction materials operations provide concrete and gravel products primarily to other contractors. The Company's materials operations are concentrated in the Las Vegas and Phoenix metropolitan areas. Forward-Looking Statements Certain statements in this release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including the following: changes in demand for the Company's products and services, product mix, the timing of new orders and contract awards, the impact of competitive products and pricing, excess or shortage of production capacity, and other risks discussed from time to time in the Company's Securities and Exchange Commission filings and reports, including the Company's Annual Report on Form 10-K for the year ended December 31, 2007. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic economic conditions. Such forward-looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.