Thomas C. Leppert Named To Succeed E.T. Gravette, Jr. As Chairman Of The Turner Corporation

Designation By The Board Of Directors Effective October 1, 1999 At Close Of Mr. Gravette’s Term

NEW YORK, June 11, 1999 – The Turner Corporation (NYSE: TUR), the nation’s leading general builder, announced its board of directors’ selection of Thomas C. Leppert as chairman and CEO-designate to succeed E.T. “Bud” Gravette, Jr., as chairman and CEO of The Turner Corporation.

Mr. Leppert’s appointment as chairman and CEO will be effective October 1, 1999.

Currently chairman of the board’s Committee on Long-Range Planning, Mr. Leppert joined The Turner Corporation board in May 1998. He presently serves as trustee of the James Campbell Estate, a trust based in Honolulu, Hawaii. Previously, Mr. Leppert served as vice chairman of the Bank of Hawaii and Pacific Century Financial Corp., President and CEO of Castle & Cooke Hawaii, and a principal with the consulting firm, McKinsey & Co., Inc.

Commenting on the board’s selection of Mr. Leppert as his successor as chairman, Mr. Gravette said: “I am extremely pleased that Tom Leppert will succeed me as chairman and CEO of The Turner Corporation. His service on the board, particularly his leadership of the Long-Range Planning Committee, distinguishes him as an individual with an impressive professional experience and a broad business and financial background. Tom’s perspectives on significant strategic issues relating to this Corporation’s growth are invaluable.”

“On the threshold of the next century, we need a strong, well-experienced board and a skilled operating management team to realize the full potential of The Turner Corporation’s resources. I am confident that Tom, working with the board and Robert E. Fee, chief operating officer of The Turner Corporation and president and chief executive officer of Turner Construction Company, will continue the substantial progress made that restored The Turner Corporation to profitability and strong revenue growth. He has a clear vision of what this firm can accomplish.”

Mr. Gravette noted that last September he acceded to the board’s request that he remain as chairman and CEO for a transitional period of two years as the positive effects of the Corporation’s reorganization gained momentum throughout the organization.

“Since 1996, our team has proven that it can grow profits, revenue and market share and successfully enter new market segments as the nation’s leading general builder. The Turner Corporation and its subsidiary, Turner Construction Company, are now led by a tested, cost- conscious, profit-oriented senior management team. And as a tangible recognition of The Turner Corporation’s coming of age, our shares began trading on the New