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AUGUST 2008 ISSUE

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August 28, 2008

Matson parent A&B announces management changes

Allen Doane, Chairman and CEO of Honolulu, Hawaii, based Alexander & Baldwin, Inc. (NASDAQ:ALEX) has announced a series of management changes effective October 1, 2008.

Stanley M. Kuriyama will be named president, Alexander & Baldwin, Inc. Most recently president and CEO of the A&B Land Group, he will report to Doane and assume day-to-day operational responsibility for both Matson Navigation Company and the A&B Land Group, and will e.

James S. Andrasick will become chairman, Matson Navigation Company, and will continue to have responsibility for Matson Integrated Logistics and Matson's legal and environmental departments. He also will continue to report to Doane.

Matthew J. Cox will be named president, Matson Navigation Company, and will assume responsibility for all Matson functions except those reporting to Andrasick. Cox had been executive vice president and chief operating officer of Matson, and will report to Kuriyama.

Stanley M. Kuriyama joined the company in 1992, as a vice president of A&B-Hawaii, Inc., (ABHI) which then was A&B's property management and development, and food products subsidiary. He was named a vice president of A&B and executive vice president of ABHI in 1999, and was named vice chairman and chief executive officer of A&B Properties, Inc. in 2000, before assuming the role of president and chief executive officer of A&B Land Group, in 2005. Prior to joining A&B, he was a partner with the law firm of Cades Schutte Fleming & Wright, specializing in real estate and real estate financing. Kuriyama earned his law degree from Harvard Law School.

James S. Andrasick joined Alexander & Baldwin, Inc. in 2000 as senior vice president, chief financial officer and treasurer of the company. In 2002, he was appointed president and CEO of A&B's ocean transportation subsidiary, Matson Navigation Company, while remaining A&B CFO until mid-2003. Prior to joining A&B, Andrasick was president and chief operating officer of C. Brewer and Company, Limited. Andrasick is a graduate of the U.S. Coast Guard Academy, and holds a masters degree in management science from the Massachusetts Institute of Technology.

Matthew J. Cox joined Matson in June 2001 as senior vice president and chief financial officer and has served as executive vice president and chief operating officer since 2005. He brought to Matson 15 years of experience in the transportation industry, 12 of which were spent at American President Lines, Ltd. (APL). Cox earned a bachelor's degree in accounting and finance from the University of California, Berkeley and is a certified public accountant.


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