Hudson Yards - Multiple Projects - New York, NY - Total $2.3 Billion

Tutor Perini Corporation Retained as Contractor for Hudson Yards Development in NYC

01/23/2012

SYLMAR, Calif.--(BUSINESS WIRE)--Jan. 23, 2012-- Tutor Perini Corporation (NYSE: TPC) a leading civil and building construction company, announced that it has been retained by Related Companies and Oxford Properties Group as contractor for the Hudson Yards development in Midtown Manhattan. Tutor Perini has also been retained for the construction of a residential tower being developed just south of the Hudson Yards on 30th Street and 10th Avenue in New York City. The project will be booked into backlog as various phases are released.

Hudson Yards is a 26-acre mixed-use development accommodating over 13 million square feet of commercial and residential space. The master plan comprises approximately 5,000 residences, 6 million square feet of state-of-the-art commercial office space, a 1 million square foot destination retail center with an over 130,000 square foot two-level space of specialty destination restaurants, cafes, markets and bars, a five star hotel, a unique cultural space, and a new 750-seat school, all carefully planned around 14 acres of public open space. Physical construction operations are scheduled to begin mid-2012.

Ronald N. Tutor , Chairman and CEO of Tutor Perini said, “We are thrilled to be playing a role in the historic Hudson Yards development and partnering with Related Companies and Oxford Properties. Our experience and expertise in significant mixed-use developments makes us an ideal fit for the creation of New York’s next great neighborhood.”

Tutor Perini has a longstanding reputation of successful projects in the New York vicinity. Notable projects include the Resorts World Casino, recently completed for Genting Berhad, the Greenwich Street Corridor Project at World Trade Center, JFK Airport Runway Reconstruction, Airtrain Terminal at Jamaica Station, Hudson Bergen Light Rail Transit System, Mohegan Sun and Foxwood Resorts.

About Tutor Perini Corporation

Tutor Perini Corporation is a leading civil and building construction company offering diversified general contracting 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 excavation, concrete forming and placement, steel erection, electrical and mechanical services, plumbing and HVAC. We are known for our major complex building project commitments as well as our capacity to perform large and complex transportation and heavy civil construction for government agencies and private clients throughout the world.

Tutor Perini Corporation website: http://www.tutorperini.com

Source: Tutor Perini Corporation

Kekst and Company
Douglas Kiker, 212-521-4800
or
Tutor Perini Corporation
Mike Kershaw, 818-362-8391
Executive Vice President & Chief Financial Officer

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