2008-10-23 23:34:02 -

- The Board of Directors of Alexander & Baldwin, Inc. (NYSE:AXB) today announced a fourth-quarter 2008 dividend of 31.5 cents per share, payable on December 4, 2008 to shareholders of record as of the close of business on November 6, 2008.

Alexander & Baldwin, Inc., headquartered in Honolulu, is engaged in ocean transportation and logistics services, through its subsidiaries,

Matson Navigation Company, Inc. and Matson Integrated Logistics, Inc.; in real estate, through A&B Properties, Inc.; and in agribusiness, through Hawaiian Commercial & Sugar Company and Kauai Coffee Company, Inc. Additional information about A&B may be found at its web site: www.alexanderbaldwin.com.

Alexander & Baldwin, Inc.
Meredith Ching, 808-525-6669 (media)
mching@abinc.com
Kevin L. Halloran, 808-525-8422 (investor relations)
khalloran@abinc.com