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March 12, 2001

The Goldfield Corporation
100 Rialto Place  Suite 500
Melbourne, Florida 32901

Submitted by fax and mail
To John H. Sottile, Chairman and President

Dear John:

I enjoyed our conversations during this past week and was extremely
pleased that you offered me a seat on the Goldfield Board of Directors.  I
feel that with my strong financial background I would make a significant
contribution especially with my having followed Goldfield for more than
thirty years.

I'm sorry that this offer was conditioned on a five-year standstill
agreement to be signed by Aaron Brown that you communicated to him
although, in our conversation you requested only two years.  I'm sorry that
this point was unable to be negotiated because we would then be able to
focus our efforts on maximizing Goldfield's shareholder value.  I believe
you and I should make every effort to WORK OUT A COMPROMISE.

During our discussion of the Cocoa Beach, Florida property, you indicated
that you wanted to buy this for yourself but the Board indicated it should
be purchased by Goldfield.  You further indicated it could be sold at a
profit immediately which would have been wonderful.

Based upon the fact that Goldfield is not in the business of condo
development and this project is extremely speculative based upon
Goldfield's lack of experience and the current economy; I believe
Goldfield should take advantage of your ability to sell this property at a
profit immediately.  I am enclosing an article which appeared in the March
7th Wall Street Journal discussing homebuilder executives, sales of their
company stock and which strongly suggests that housing demand will
weaken.  Furthermore, based upon your own experience building your
own home and your interest in owning this property from the beginning, I
would strongly support a stockholder proposal for you to purchase this
property from Goldfield at Goldfield's total cost plus interest,

Goldfield's press release of February 22, 2001 failed to positively impact
the stock price although the receipt of two million dollars of Keyman Life
Insurance increased stockholder's equity by approximately 12.4% to 18
million dollars from September 30, 2000 and was 147% more than the
nine months earnings for the period ended September 30, 2000, in the
amount of $1,351,848.  The press release spent approximately 145 words
describing the purchase of 3100 acres in New Mexico for $400,000, which
I agree was a positive event, but only 45 words describing and explaining
the collection of two million dollars.

From February 23, 2001 till March 9, 2001, Goldfield traded 155, 800
shares or an average of 14, 164 shares per day at between $.52-$.64 per
share.  February 22, 2001 Goldfield closed at $.58 per share and March 9,
2001, it closed at $.54 per share for a loss of $0.04 per share.  For the
period January 23, 2001 till February 22, 2001, 22 days, Goldfield traded
612,000 shares between $.57 to $.75 per share on a daily average of
27,845 shares or about twice as much volume, after the positive press
release of February 22, 2001.

Clearly Goldfield needs the advice of an investor relations firm to guide
them.  I recommended Charles Moscowitz to share his approach with you
but I believe to properly comply with full and fair disclosure, Goldfield
should interview other firms and hire one.  This was item number two of
my proposal dated January 17, 2001 of my suggestions on how to
maximize shareholder value.

I am happy that you, Tony Ford, and myself were able to discuss my
January 1, 2001 letter and my seven suggestions towards maximizing
shareholder value along with your response dated January 17, 2001.  A
dialogue of this nature is beneficial and that is the reason I withdrew my
asset appraisal proposal on January 24, 2001.

I would appreciate your written responses to the following questions:
What progress have you made so far?  What items have you adopted?
What items do you disagree with? What is your timetable for the adoption
of the proposals you support?

Furthermore, Charles Moscowitz has sent me a copy of his letter to you
dated January 19, 2001 along with the ten-page proposal for Goldfield in
the area of investor relations.  He discussed with me the possibility of a
free interview for you and Goldfield on which would help
you inform the public of all the positive things you are doing as
Goldfield's president and CEO.

What do you think?  It would seem that an expert with investor relation's
skills will benefit all stockholders and a small part of the two million
dollars spent in this area should reap significant gains to all stockholders
and contribute to maximizing of employee stock options as well.

Looking forward to hearing from you soon,

Sam Rebotsky