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Melbourne, FL - The Goldfield Corporation, a leading provider of electrical construction services in the southeastern United States, announced that it has recently been awarded new electrical construction contracts aggregating $12.5 million, including significant awards outside its customary southeastern base.

The contracts include installation of 105 miles of optical ground wire (OPGW) in central Colorado; 6.5 miles of 161 kV transmission line in western Tennessee (contract subject to final regulatory approval); 40 miles of OPGW near Birmingham, Alabama; and a small tie line in northern Texas. In addition, Goldfield has been awarded Phase II of the previously announced multi-phase upgrade of 46.2 miles of high voltage (230 kV) transmission line to support load growth in the central Florida area. Phase II consists of 11 miles of 230 kV rebuild. Phase I of this project was completed in May 2008 ahead of schedule and below budget. Southeast Power, Goldfield's electrical construction subsidiary, is the "preferred contracting partner" for the remaining segments.

John H. Sottile, President of The Goldfield Corporation, commented, "For several years, Southeast Power has been working towards expanding our customer and geographic base to include the western parts of the United States. These new projects represent an important initial step in implementing our business plan."

Mr. Sottile also commented, "With aggressive competition for the fewer available electrical construction jobs, work is expected to remain slow throughout the summer. The challenging economic environment, which has impacted Southeast Power over the past few quarters, is expected to continue into our third quarter, but we are encouraged by this growth in new business and new territories."

SOURCE: The Goldfield Corporation