TUTOR PERINI CORP — Director's Dealing 2004

Apr 19, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PERINI CORP (PCR)
CIK: 0000077543
Period of Report: 2004-04-16

Reporting Person: BLUM CAPITAL PARTNERS LP (10% Owner)
Reporting Person: RICHARD C BLUM & ASSOCIATES INC (10% Owner)
Reporting Person: BLUM RICHARD C (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-04-16	Common Stock	S	1183408	$15.00	Disposed	3060741	Direct
2004-04-16	Common Stock	S	22421	$15.00	Disposed	6605	Direct
2004-04-16	Common Stock	S	1162348	$15.00	Disposed	0	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	49801	Indirect

Footnotes

F1: These shares are owned directly by PB Capital Partners, L.P.

F2: These shares may be deemed to be owned indirectly by the following parties: (i) Blum Capital Partners, L.P. ("Blum LP"), the general partner of the limited partnership described in Note (1); (ii) Richard C. Blum and Associates, Inc. ("RCBA Inc."), the general partner of Blum LP; and (iii) Richard C. Blum, a significant stockholder and Chairman of RCBA Inc. Blum LP, RCBA Inc. and Mr. Blum disclaim beneficial ownership of these shares, except to the extent of any pecuniary interest therein.

F3: These shares are owned directly by Blum LP and may be deemed to be owned indirectly by the following parties: (i) RCBA Inc., the general partner of Blum LP; and (ii) Richard C. Blum, a significant stockholder and Chairman of RCBA Inc. RCBA Inc. and Mr. Blum disclaim beneficial ownership of these shares, except to the extent of any pecuniary interest therein.

F4: As of April 16, 2004, Blum LP, a registered investment advisor, ceased to have voting and investment discretion with respect to the shares of common stock owned by The Common Fund for its Multi-Strategy Equity Fund ("The Common Fund"). Accordingly, Blum LP no longer reports indirect beneficial ownership of the shares owned by The Common Fund. No Reporting Person had or has a reportable pecuniary interest in any of the shares owned by The Common Fund. The Common Fund disclaims membership in a group with any of the Reporting Persons and therefore is not subject to Section 16.

F5: These shares are owned directly by the United Brotherhood of Carpenters Pension Plan ("UBC"). UBC disclaims membership in a group with any of the Reporting Persons and therefore is not subject to Section 16. Blum LP, a registered investment advisor, has voting and investment discretion with respect to the shares owned by UBC, but no Reporting Person has a reportable pecuniary interest in any of the shares owned by UBC.