Keating Building Company Awarded LeBow College Building Construction Contract

PHILADELPHIA – September 7, 2011 – Keating Building Company, a wholly-owned subsidiary of Tutor Perini Corporation (NYSE: TPC), announced that it has been awarded a contract to construct the new LeBow College of Business building for Drexel University, located in Philadelphia.  The contract amount is expected to be approximately $70 million.

The LeBow College building will consist of a 12-story, 177,500 square foot building housing classrooms, offices and student engagement spaces.  Robert A.M. Stern Architects and Voith & Mactavish Architects are designing the project.  Substantial completion is anticipated to occur in the first quarter of 2014. 

Founded in 1891, Drexel University is noted for its focus on technology and research.  Drexel is the nation’s 14th largest private university and ranked second among national universities in the most recent U.S. News & World Report list of “Up-and-Comers.”  In addition, Drexel’s online division was ranked by U.S. News & World Report among the “Best” in the field of business, engineering, education and library science.  In recent years, LeBow College programs have been ranked by outlets such as Financial Times, BusinessWeek, Princeton Review, Entrepreneur magazine and others. LeBow’s finance and international economics faculty are considered among the world’s leading scholars in those fields.

About Tutor Perini Corporation (NYSE:  TPC)

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 1984 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.

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The future of business education is here. With a dedication ceremony today, Drexel University celebrated the opening of the 12-story, 177,500-square-foot Gerri C. LeBow Hall—the new home of the University’s LeBow College of Business.