Meadow Valley Awarded $22.1 Million in New Contracts

  
    
  
  
    
      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.