PCR Perini Cp

Perini Corporation (NYSE: PCR) today announced that James A. Cummings has resigned from the Board of Directors effective December 18th, 2007. Mr. Cummings will retire as Chairman and Chief Executive Officer of James A. Cummings, Inc. (�James A. Cummings�), a wholly owned subsidiary of the Company, as of January 31, 2008. Mr. Cummings founded James A. Cummings in June of 1981 along with his partners, William R. Derrer and Peter H. MacEachron. Under his leadership, the company grew from a three person firm to an industry leader with over 170 employees and offices in Ft. Lauderdale, West Palm Beach and Orlando, Florida. In January 2003, James A. Cummings, Inc. was acquired by Perini Corporation. �Jim played a vital role in the successful integration of James A. Cummings into the Perini family. We thank him for his contributions over the last five years and wish him well in his retirement,� said Robert Band, President and Chief Operating Officer of Perini Corporation. William R. Derrer, President of James A. Cummings and Mr. Cummings� partner throughout the life of the company, will remain as President and will assume Mr. Cummings� responsibilities following his retirement. Mr. Derrer graduated with Honors from the University of Florida�s building construction program and has been affiliated with two large construction companies. He is active in a number of community organizations, including the Miami-Dade County Board of Rules and Appeals. He was recently inducted into the Construction Hall of Fame at the University of Florida M. E. Rinker Sr. School of Building Construction. Mr. Derrer is a Licensed Certified General Contractor. Perini has engaged an executive search firm to identify a replacement for Mr. Cummings� position on the Board of Directors. About Perini Corporation Perini Corporation is a leading construction services company offering diversified general contracting, construction management and design/build services to private clients and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large complex projects on time and within budget while adhering to strict quality control measures. We offer general contracting, preconstruction planning and comprehensive project management services, including the planning and scheduling of the manpower, equipment, materials and subcontractors required for a project. We also offer self-performed construction services including sitework, concrete forming and placement and steel erection. We are known for our hospitality and gaming industry projects, sports and entertainment, educational, transportation, healthcare, biotech, pharmaceutical and high-tech facilities, as well as large and complex civil construction projects and construction management services to U.S. military and government agencies. The statements contained in this Release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including without limitation, statements regarding the Company�s expectations, hopes, beliefs, intentions or strategies regarding the future. These forward-looking statements are based on the Company�s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the Company's ability to successfully and timely complete construction projects; the Company�s ability to convert backlog into revenue; the potential delay, suspension, termination, or reduction in scope of a construction project; the continuing validity of the underlying assumptions and estimates of total forecasted project revenues, costs and profits and project schedules; the outcomes of pending or future litigation, arbitration or other dispute resolution proceedings; the availability of borrowed funds on terms acceptable to the Company; the ability to retain certain members of management; the ability to obtain surety bonds to secure its performance under certain construction contracts; possible labor disputes or work stoppages within the construction industry; changes in federal and state appropriations for infrastructure projects; possible changes or developments in worldwide or domestic political, social, economic, business, industry, market and regulatory conditions or circumstances; and actions taken or not taken by third parties, including the Company�s customers, suppliers, business partners, and competitors and legislative, regulatory, judicial and other governmental authorities and officials. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.