Tranche Update on The Goldfield Corporation (AMEX:GV)'s Equity Buyback Plan announced on September 17, 2002.

The Goldfield Corporation (Goldfield) is engaged in the construction of electrical infrastructure for the utility industry and industrial customers. The Company serves customers in the Southeast and mid-Atlantic regions of the United States, including Texas. Goldfield is also engaged in real estate development operations of residential properties on the east coast of Central Florida. Goldfield operates through two segments: electrical construction and real estate development. Through its subsidiaries, Power Corporation of America, Southeast Power Corporation (Southeast Power), C and C Power Line, Inc. (C&C) and Precision Foundations, Inc. (PFI), the Company is engaged in the construction of electrical infrastructure for the utility industry and industrial customers. PFI constructs drilled pier foundations and install concrete poles, direct embeds and vibratory casings.