PCR Perini Cp

Perini Corporation (NYSE: PCR), a leading building and civil construction company, announced today that it was awarded a task order on September 27, 2008 worth $50.7 million for repairs to the South Runway at Andersen Air Force Base in Guam. Perini bid the project under its Sustainment, Restoration & Maintenance Acquisition Task Order Contract (SATOC) with the Air Force Civil Engineer Support Agency (AFCESA). The $4 billion SATOC program is administered by AFCESA at Tyndall AFB in Florida and includes a pool of 19 contractors who have the opportunity to bid on each task order request for proposal. This task order at Andersen AFB is a design-build project for the removal of an existing 11,185 x 200 foot runway and replacement with a new Portland Cement Concrete runway of the same size. The work also includes the removal of two existing BAK-12 arresting gear sets, for government refurbishment, and their subsequent reinstallation, as well as installation of runway and approach lights, concrete-encased ductbanks and runway lighting circuits. Perini�s management team for the project was drawn from company personnel with experience in military airfield pavement construction, including key personnel from the newly-acquired Black Construction Corporation (BCC) of Guam. BCC is a subsidiary of Tutor-Saliba Corporation, which merged with Perini Corporation the third quarter of 2008. BCC is the largest local construction company on Guam and has significant recent experience at Andersen AFB. The team�s lead design firm is Stanley Consultants, Inc. of Muscatine, Iowa. Concrete supply will be by Hawaiian Rock Products of Mangilao, Guam. Andersen AFB is the home of the 36th Wing of the Pacific Air Forces which hosts USAF Active, Reserve, National Guard and US Naval forces on base. Robert Band, President and Chief Operating Officer, said: �Perini is pleased about this new award and the opportunity to re-establish our presence on Guam, where we have held previous contracts with the U.S. Navy. Our resources and military construction expertise, combined with the resources of Black Construction Corporation, the largest local construction company on the island, provides the U.S. government with a high degree of assurance for a successful project outcome.� 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, pre-construction 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.