Alexander & Baldwin Trades Today on New York Stock Exchange Under New Ticker "AXB"

October 1, 2008

A&B Has Arrived on the Big Board

HONOLULU--(BUSINESS WIRE)--

Alexander & Baldwin, Inc. (NYSE:AXB) announced today that trading of its shares began on the New York Stock Exchange ("NYSE") under the new ticker symbol "AXB".

"Ninety-five years ago to the day, we first began trading as a public company on the Honolulu Stock and Bond Exchange. In the nearly century since, Alexander & Baldwin has grown exponentially into a premier transportation and real estate company, with multi-market operations from Shanghai to Savannah. Trading on the New York Stock Exchange is an important step forward for us, as we continue to seek new ways and new places to expand our operations, and as we create sustained, long-term value for our shareholders," said Allen Doane, chairman & CEO, Alexander & Baldwin.

"We welcome Alexander & Baldwin and its well-established brands to the New York Stock Exchange," said Duncan Niederauer, CEO, NYSE Euronext. "From its Hawaii home to the Asia-Pacific region and the mainland USA, Alexander & Baldwin has built an outstanding business and reputation. On behalf of my colleagues, I extend to the Alexander & Baldwin team and shareholders a warm aloha and my commitment to provide the highest levels of market quality and service."

In addition to activities underway today on the floor of the exchange, Alexander & Baldwin's representatives will ring the Opening Bell on October 23, 2008 to celebrate the Company's move to the New York Stock Exchange.

About Alexander & Baldwin: Alexander & Baldwin, Inc., headquartered in Honolulu, Hawaii is engaged in ocean transportation and integrated logistics services through its subsidiaries, Matson Navigation Company, Inc., Matson Integrated Logistics, Inc. and Matson Global Distribution Services; 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.

Statements in this press release that are not historical facts are "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. These forward-looking statements are not guarantees of future performance. This release should be read in conjunction with our Annual Report on Form 10-K and our other filings with the SEC through the date.

Source: Alexander & Baldwin, Inc.