Perini Corporation Shareholders Approve Acquisition of Tutor-Saliba Corporation

Perini Corporation, a leading building, civil construction and construction management company, said its shareholders today approved the acquisition of Tutor-Saliba Corporation at the Annual Meeting of Perini shareholders. Perini announced that it expects to close the transaction on Monday, September 8, 2008.

The proposal to approve the issuance of the shares in the merger was approved by over 88 percent of shareholders voting on the proposal. All other proposals related to the merger were also approved by shareholders.

In addition, Perini shareholders also elected all of the company nominees to the Board of Directors and approved all other proposals presented to shareholders at the Annual Meeting, including an amendment to increase the number of shares authorized for issuance under Perini’s 2004 Stock Option and Incentive Plan.

Michael R. Klein, Lead Director of Perini, said, “I am delighted that Perini’s shareholders have approved this transaction, and by a margin that clearly illustrates enthusiasm about the significantly enhanced shareholder value that we expect the combination of these two highly successful and complementary companies – Perini and Tutor-Saliba – will create.

“By combining, growing and diversifying the best talent of both companies, growing our backlog of booked and targeted projects and diversifying our reach into promising new segments of the market, this transaction will create the premiere publicly-traded general contractor in the United States and overseas,” concluded Mr. Klein.

On April 2, 2008, Perini announced that it had entered into a definitive agreement to acquire the privately-held Tutor-Saliba. On August 7, 2008, Perini mailed to its shareholders a Proxy Statement that contained important information regarding the transaction, which involves issuing to the shareholders of Tutor-Saliba equal to 45% of the then total outstanding shares of 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.