MVCO Meadow Valley (MM)

Meadow Valley Corporation (NASDAQ:MVCO) announced today that it has been awarded three new construction contracts by the Arizona Department of Transportation valued at a total of approximately $47.5 million. Meadow Valley won a $40.2 million contract to construct three new precast concrete girder bridges and new High Occupancy Vehicle (HOV) lanes by widening the existing median on the SR 51 Piestewa Freeway in Phoenix. Approximately 40% of this project is scheduled to be completed in 2007 with the balance to be completed by October 2008. The second contract for approximately $5.8 million entails milling and removing existing asphalt paving and installing new asphalt paving on SR 347 in Maricopa County, Arizona. This project is scheduled to be completed in 2007. The third contract is a $1.5 million bridge widening project near Winslow, Arizona. Meadow Valley will upgrade and modify an existing two-span steel bridge to a single span bridge. Approximately 80% of this contract is scheduled to be completed in 2007 with the balance to be completed by May 2008. 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 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 Southern Nevada and Arizona. 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, 2006. 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.