Quanta Services' presentations at the JPMorgan and Credit Suisse conferences will be webcast live on their respective dates and times. To listen to the live audio webcast and view Quanta's presentation material, visit the company's website at http://www.quantaservices.com. A replay of the presentation will be archived on the website shortly after the presentation is concluded.

Quanta Services is a leading specialized contracting services company, delivering infrastructure network solutions for the electric power, natural gas, telecommunications and cable television industries. The company's comprehensive services include engineering, designing, installing, repairing and maintaining network infrastructure nationwide. With operations in all 50 states and Canada, Quanta has the manpower, resources and expertise to complete projects that are local, regional, national or international in scope.

     Contacts: James Haddox, CFO        Ken Dennard / ksdennard@drg-e.com
               Reba Reid                Kip Rupp / krupp@drg-e.com
               Quanta Services, Inc.    DRG&E
               713-629-7600             713-529-6600

SOURCE Quanta Services, Inc.

http://www.quantaservices.com

"The second quarter continued a trend of strong revenue growth and operating margin expansion for our business. For the quarter, pro forma internal revenue growth was approximately 20 percent compared to the second quarter of 2007 including the effects of all acquisitions in both periods," said John R. Colson, chairman and chief executive officer of Quanta Services. "Our customers continue to invest in infrastructure despite a challenging economic environment. The growth in renewable energy generation is creating opportunities and adding momentum to the already strong electrical construction market."

Revenues for the first six months of 2008 were $1.81 billion compared to $1.12 billion for the first half of 2007. For the first six months of 2008, Quanta reported income from continuing operations of $64.8 million or $0.35 per diluted share, compared to income from continuing operations of $52.7 million or $0.39 per diluted share for the first six months of last year. Excluding $15.3 million in tax benefits primarily associated with the settlement of a multi-year audit by the Internal Revenue Service during the first quarter of 2007, adjusted income from continuing operations was $37.3 million and adjusted earnings per diluted share from continuing operations were $0.29 for the first six months of 2007. Adjusted income from continuing operations and adjusted earnings per diluted share from continuing operations are non-GAAP measures. See the attached table for a reconciliation of non-GAAP measures to the reported GAAP measures.

RECENT HIGHLIGHTS -

-- Allegheny Transmission Project Received Approval -- Trans-Allegheny Interstate Line Company (TrAIL) recently announced that the Public Service Commission of West Virginia issued an order approving the TrAIL 500,000-volt transmission line in West Virginia. In 2007, Quanta was awarded the contract for installation of transmission infrastructure for this 210-mile project. Quanta has initiated pre-construction activities under this contract. The new transmission line, which spans West Virginia, Virginia and Pennsylvania, is expected to be completed by June 2011.

-- Acquired a Helicopter Services Company -- The acquisition of Oregon-based Winco, Inc. (Winco) in July 2008 enables Quanta to deliver powerline helicopter services to its customers nationwide. Winco brings more than two decades of experience in helicopter-assisted transmission line construction, maintenance and repair services. Winco's services augment Quanta's existing transmission resources and better position Quanta to meet the evolving needs of its customers, especially in environmentally sensitive areas.

-- Completed Installation of Solar Energy System -- This month Quanta completed the installation of a two-megawatt, ground-mounted solar system at the Denver International Airport. The nine-acre system is projected to provide 40 percent of the power supply required to run the airport and save the airport an estimated $13 million over the next 20 years. Quanta provided site preparation and installation services for the more than 9,000 panels required for the system. This is one of more than thirty renewable energy projects Quanta had in progress at the end of the second quarter.

OUTLOOK

The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially.

Quanta expects revenues for the third quarter of 2008 to range between $1.00 billion and $1.04 billion and diluted earnings per share to be between $0.23 and $0.26. The third quarter 2007 results included the benefit of $17.9 million from the release of income tax contingencies. For the third quarter of 2007, earnings per diluted share from continuing operations were $0.30, which included $0.11 per diluted share from these tax benefits. Quanta expects cash earnings per diluted share for the third quarter of 2008 to range from $0.27 to $0.31. Amortization of intangibles and non-cash stock compensation expenses are forecasted to be approximately $12.6 million for the third quarter of 2008. These estimates include approximately $30 million of anticipated emergency restoration revenues for the third quarter of 2008.

Quanta Services has scheduled a conference call for August 6, 2008, at 9:30 a.m. Eastern time. To participate in the call, dial (303) 262-2191 at least 10 minutes before the conference call begins and ask for the Quanta Services conference call. Investors, analysts and the general public also will have the opportunity to listen to the conference call over the Internet by visiting the company's Web site at http://www.quantaservices.com. To listen to the call live on the Web, please visit the Quanta Services Web site at least fifteen minutes early to register, download and install any necessary audio software. For those who cannot listen to the live webcast, an archive will be available shortly after the call on the company's Web site. A replay will also be available through August 13, 2008 and may be accessed by calling (303) 590-3000 and using the pass code 11116519. For more information, please contact Karen Roan at DRG&E by calling (713) 529-6600.

The non-GAAP measures in this press release and the attached table are provided to enable investors to evaluate performance excluding the effects of certain items that management believes impact the comparability of operating results between reporting periods. Reconciliations of other GAAP to non-GAAP measures not included in this press release can be found on the company's Web site at http://www.quantaservices.com in the "Financial News" section.

Quanta Services is a leading specialized contracting services company, delivering infrastructure network solutions for the electric power, natural gas, telecommunications and cable television industries. The company's comprehensive services include designing, installing, repairing and maintaining network infrastructure nationwide. Additionally, Quanta provides point-to-point fiber optic telecommunications infrastructure and leasing in select markets and offers related design, procurement, construction and maintenance services. With operations throughout North America, Quanta has the manpower, resources and expertise to complete projects that are local, regional, national or international in scope.

Forward-Looking Statements

This press release (and oral statements regarding the subject matter of this release, including those made on the conference call and webcast announced herein) contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, projected revenues and earnings per share and other projections of financial and operating results, capital expenditures, growth in particular markets, benefits of the Energy Policy Act of 2005, statements relating to the business plans or financial condition of utilities and our other customers, and Quanta's strategies and plans, as well as statements reflecting expectations, intentions, assumptions or beliefs about future events, and other statements that do not relate strictly to historical or current facts. Although Quanta's management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements can be affected by inaccurate assumptions and by a variety of risks and uncertainties that are difficult to predict or beyond our control, including, among others, quarterly variations in operating results; adverse changes in economic conditions and trends in relevant markets; the failure to realize expected synergies and benefits from the merger with InfraSource Services, Inc., and other potential adverse impacts on Quanta's business or its financial results as a result of the merger, including unexpected costs or liabilities; delays or cancellations of existing projects and our ability to compete for new projects; dependence on fixed price contracts and the potential to incur losses with respect to these contracts; estimates relating to the use of percentage-of-completion accounting; the successful performance and completion of contracts; the ability to generate internal growth; the ability to effectively compete for market share; potential failure of the Energy Policy Act of 2005 to result in increased spending on the electrical power transmission infrastructure; the ability to attract skilled labor and retention of key personnel and qualified employees; potential shortage of skilled employees; growth outpacing infrastructure; the ability to successfully identify, complete and integrate acquisitions; the adverse impact of goodwill impairments; estimates and assumptions in determining financial results; unexpected costs or liabilities that may arise from lawsuits or indemnity claims related to the services Quanta performs; liabilities for claims that are self-insured or for claims that Quanta's casualty insurance carrier fails to pay; the financial distress of Quanta's casualty insurance carrier that may require payment for losses that would otherwise be insured; potential liabilities relating to occupational health and safety matters; risks associated with Quanta's dark fiber leasing business, including regulatory changes and the potential inability to realize a return on capital investments; cancellation provisions within contracts and the risk that contracts are not renewed or are replaced on less favorable terms; the ability to realize backlog; the inability of customers to pay for services; beliefs and assumptions about the collectability of receivables; the ability to obtain performance bonds; the impact of a unionized workforce on operations and the ability to complete future acquisitions; the ability to continue to meet the requirements of the Sarbanes-Oxley Act of 2002; potential exposure to environmental liabilities; risks associated with operating in international markets; requirements relating to governmental regulation and changes thereto; rapid technological and structural changes that could reduce the demand for services; the cost of borrowing, availability of credit, debt covenant compliance and other factors affecting financing activities; the potential conversion of Quanta's outstanding convertible subordinated notes; and other risks detailed in Quanta's Annual Report on Form 10-K for the year ended December 31, 2007, Quanta's Quarterly Report on Form 10-Q for quarter ended March 31, 2008 and any other documents of Quanta filed with the Securities and Exchange Commission (SEC). Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For a discussion of these risks, uncertainties and assumptions, investors are urged to refer to Quanta's documents filed with the SEC that are available through the company's web site at http://www.quantaservices.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov.

     Contacts:  James Haddox, CFO          Ken Dennard / ksdennard@drg-e.com
                Reba Reid                  Kip Rupp / krupp@drg-e.com
                Quanta Services Inc.       DRG&E
                713-629-7600               713-529-6600



                             - Tables to follow -



                    Quanta Services, Inc. and Subsidiaries
                    Consolidated Statements of Operations
          For the Three and Six Months Ended June 30, 2008 and 2007
                 (In thousands, except per share information)
                                 (Unaudited)

                               Three Months Ended         Six Months Ended
                                     June 30,                  June 30,
                                 2008       2007          2008         2007
    Revenues                  $960,882    $552,220     $1,805,324  $1,121,179
    Cost of services
     (including
     depreciation)             802,192    466,973      1,522,757      958,360
       Gross profit            158,690     85,247        282,567      162,819
    Selling, general &
     administrative expenses    76,292     47,021        147,008       95,976
    Amortization of
     intangible
     assets                      9,876        692         20,466        1,464
       Operating income         72,522     37,534        115,093       65,379
    Interest expense            (5,219)    (5,544)       (10,419)     (11,096)
    Interest income              2,088      5,654          6,083        9,952

    Other income (expense),
     net                           278         82            482          111
       Income from
        continuing operations
        before income
        tax provision           69,669     37,726        111,239       64,346
    Provision for income
     taxes                      29,151     15,943         46,469       11,696
       Income from
        continuing
        operations              40,518     21,783         64,770       52,650
    Income from
     discontinued
     operation                       -         83              -          420
       Net income              $40,518    $21,866        $64,770      $53,070


    Basic earnings per
     share:
       Income from
        continuing
        operations               $0.24      $0.18          $0.38        $0.45
       Income from
        discontinued
        operation                    -          -              -            -
          Net Income             $0.24      $0.18          $0.38        $0.45

       Weighted average
        basic shares
        outstanding            171,063    118,578        170,556      118,306


    Diluted earnings per
     share:
       Income from
        continuing
        operations               $0.22     $0.17          $0.35         $0.39
       Income from
        discontinued
        operation                    -         -              -          0.01
          Net Income             $0.22     $0.17          $0.35         $0.40
       Weighted average
        diluted shares
        outstanding            202,535   149,964        201,940       149,736


    The calculation of earnings per share is provided in the following table.



                    Quanta Services, Inc. and Subsidiaries
                      Calculation of Earnings Per Share
          For the Three and Six Months Ended June 30, 2008 and 2007
                 (In thousands, except per share information)
                                 (Unaudited)

                                   Three Months Ended       Six Months Ended
                                        June 30,                June 30,
                                   2008          2007        2008       2007

    Income for basic earnings
     per share:
      From continuing
       operations                 $40,518      $21,783      $64,770   $52,650
      From discontinued
       operation                        -           83            -       420

      Net income                  $40,518      $21,866      $64,770   $53,070

    Weighted average shares
     outstanding for basic
     earnings per share           171,063      118,578      170,556   118,306

    Basic earnings per share:
      From continuing
       operations                   $0.24        $0.18        $0.38     $0.45
      From discontinued
       operation                        -            -            -         -
      Net income                    $0.24        $0.18        $0.38     $0.45


    Income for diluted
     earnings per share:
      Income from
       continuing
       operations                 $40,518      $21,783      $64,770   $52,650
      Effect of
       convertible
       subordinated
       notes under
       the "if-converted"
       method - interest
       expense addback,
       net of taxes                 3,199        3,199        6,398     6,398

    Income from continuing
     operations for diluted
     earnings per share            43,717       24,982       71,168    59,048
    Income from
     discontinued
     operation                          -           83            -       420
    Net income for diluted
     earnings per share           $43,717      $25,065      $71,168   $59,468


    Calculation of weighted
     average shares for
     diluted earnings per
     share:
      Weighted average
       shares outstanding for
       basic earnings per share   171,063      118,578      170,556   118,306
      Effect of dilutive
       stock options and
       restricted stock               822          734          734       778
      Effect of convertible
       subordinated notes under
       the "if-converted"
       method - weighted
       convertible shares
       issuable                    30,650       30,652       30,650    30,652
      Weighted average
       shares outstanding
       for diluted
       earnings per share         202,535      149,964      201,940   149,736

    Diluted earnings per
     share:
      From continuing
       operations                   $0.22        $0.17        $0.35     $0.39
      From discontinued
       operation                        -            -            -      0.01
      Net income                    $0.22        $0.17        $0.35     $0.40



                    Quanta Services, Inc. and Subsidiaries
                         Non-GAAP Financial Measures
          For the Three and Six Months Ended June 30, 2008 and 2007
                 (In thousands, except per share information)
                                 (Unaudited)

             Reconciliation of GAAP Earnings per Diluted Share to
          Cash Earnings and Adjusted Cash Earnings per Diluted Share

                                 Three Months Ended      Six Months Ended
                                      June 30,                June 30,
                                  2008        2007        2008       2007
    As reported income from
     continuing operations      $40,518     $21,783     $64,770    $52,650
    Adjustments:
      Impact of tax contingency
       releases                       -           -           -    (15,338)(a)
    Adjusted income from
     continuing operations       40,518      21,783      64,770     37,312
      Non-cash stock-based
       compensation, net
       of tax                     2,796       1,080       5,099      2,208
      Amortization of
       intangible assets,
       net of tax                 6,024         422      12,484        893

    Adjusted income from
     continuing operations for
     calculation of cash
     earnings and adjusted
     cash earnings per
     diluted share              $49,338     $23,285     $82,353    $40,413




    From continuing operations:
      As reported earnings per
       diluted share(b)           $0.22       $0.17       $0.35      $0.39
      As adjusted earnings per
       diluted share(b)           $0.22       $0.17       $0.35      $0.29(a)
      Cash earnings and adjusted
       cash earnings per
       diluted share(b)           $0.26       $0.18       $0.44      $0.31(a)



    (a) Reflects the elimination of tax benefits primarily associated with the
        settlement of a multi-year audit by the Internal Revenue Service in
        the first quarter of 2007.

    (b) As a result of applying the if-converted method for calculating
        diluted earnings per share, shares have been adjusted assuming
        conversion of Quanta's convertible subordinated notes, and net income
        has been adjusted for an addback of related interest expense, net of
        tax.


    The non-GAAP measures in this press release are provided to enable
investors to evaluate quarterly performance excluding the effects of items
that management believes impact the comparability of operating results between
periods.



                    Quanta Services, Inc. and Subsidiaries
                    Condensed Consolidated Balance Sheets
                                (In thousands)
                                 (Unaudited)

                                            June 30,           December 31,
                                             2008                 2007
    ASSETS

    CURRENT ASSETS:
    Cash and cash equivalents              $304,791             $407,081
    Accounts receivable, net                821,110              719,672

    Costs and estimated earnings in
     excess of billings on uncompleted
     contracts                               82,116               72,424
    Inventories                              31,033               25,920
    Prepaid expenses and other
     current assets                          78,571               79,665
           Total current assets           1,317,621            1,304,762
    PROPERTY AND EQUIPMENT, net             605,536              532,285
    OTHER ASSETS, net                        34,404               42,992
    INTANGIBLE ASSETS, net                  152,684              152,695
    GOODWILL                              1,380,249            1,355,098
           Total assets                  $3,490,494           $3,387,832


    LIABILITIES AND STOCKHOLDERS' EQUITY

    CURRENT LIABILITIES:
    Current maturities of
     long-term debt                        $270,098             $271,011
    Accounts payable and accrued
     expenses                               435,724              420,815
    Billings in excess of costs and
     estimated earnings on uncompleted
     contracts                               48,688               65,603
           Total current liabilities        754,510              757,429
    CONVERTIBLE SUBORDINATED NOTES          143,750              143,750
    DEFERRED INCOME TAXES AND OTHER
     NON-CURRENT LIABILITIES                314,391              301,510
           Total liabilities              1,212,651            1,202,689
    STOCKHOLDERS' EQUITY                  2,277,843            2,185,143
           Total liabilities and
            stockholders' equity         $3,490,494           $3,387,832

SOURCE Quanta Services, Inc.

http://www.quantaservices.com