Turner Reaches Milestone: Selected for 15,000th Major Project

Project will seek LEED Platinum Certification from the United States Green Building Council

Turner Construction Company, the nation's leading general builder, today announced the firm has secured a contract with a construction value of $280 million for the preconstruction planning and construction of The Stanford University Graduate School of Business Knight Management Center in Stanford, Calif. This contract marks Turner's 15,000th major contract in the company's 106-year history.

The 360,000 sq. ft. Knight Management Center will be comprised of eight buildings. The new facility will include a 600-seat lecture hall, dining facilities, classroom space and a 900-space underground parking structure. Construction of the parking facility has already begun. In March 2009, construction will commence on the seven additional buildings. Initial occupancy of the facility is scheduled for the Fall 2010 with final completion scheduled for the Spring 2011.

The environmentally sustainable project will seek to achieve a LEED(R) Platinum certification from the United States Green Building Council. The new business school campus will utilize solar technology to reduce energy needs with a goal to exceed California's energy efficiency standards by at least 40 percent. Green features of the Knight Management Center will include the use of low-volatile or non-volatile organic compound-emitting materials for improved air quality, reduced overall water consumption of at least 30 percent, recycling of up to 75 percent of non-hazardous construction debris and the use of rainwater or re-circulated gray water to reduce potable water use for building sewage conveyance by 80 percent.

"Since Turner's founding in 1902, the company has grown from the builder of concrete structures in New York to a recognized construction manager that has been privileged to work with many great clients on notable projects worldwide," said Peter J. Davoren, President and Chief Executive Officer of Turner Construction Company.

Mr. Davoren continued, "As the largest builder of education facilities and the leading green builder in the United States, Turner is very proud to mark the 15,000th contract milestone for our company."

Over the past century, numerous notable projects bear Turner's signature including the John F. Kennedy Memorial Library in Boston; Madison Square Garden and the new Yankee Stadium in New York; the Howard Hughes Medical Institute Janelia Farm Research Campus in Ashburn, VA; the National World War II Memorial in Washington, DC; the Rock and Roll Hall of Fame + Museum in Cleveland; multiple projects for the Cincinnati Public Schools; the Burj Dubai in Dubai, UAE (the world's tallest structure) and the Rand Corporation in Santa Monica, CA.

About Turner

Turner is the leading general builder in the United States, ranking first or second in the major segments of the building construction field. During 2007, Turner completed $9.6 billion of construction. Turner offers clients a nationwide network of offices. Founded in 1902, the firm is a subsidiary of HOCHTIEF, one of the world's leading international construction service providers. For more information, visit Turner's website at www.turnerconstruction.com.

HOCHTIEF is one of the leading international providers of construction-related services. With more than 52,000 employees and a sales volume of EUR 16.45 billion in FY 2007, the company is represented in all the world's major markets. The Group's service offering in the fields of development, construction, services, concessions and operation covers the entire life cycle of infrastructure projects, real estate and facilities. In the USA, the biggest construction market in the world, HOCHTIEF is the No. 1 general builder via its subsidiary Turner and, with Group company Flatiron, ranks among the most important players in the field of transportation infrastructure construction. With its subsidiary Leighton (HOCHTIEF share around 55 percent), the group is market leader in Australia. Further information is available at www.hochtief.com/press.