Andrasick Now Executive Vice President of Alexander & Baldwin, Inc.

April 25, 2002

ANDRASICK NOW EXECUTIVE VICE PRESIDENT OF ALEXANDER & BALDWIN, INC.
Promotion Recognizes Responsibilities, Contributions to Company

HONOLULU, HAWAII, April 25, 2002 – James S. Andrasick has been promoted to executive vice president of Alexander & Baldwin, Inc. (NASDAQ: ALEX), announced A&B President and Chief Executive Officer Allen Doane. Andrasick will retain his current responsibilities as chief financial officer and treasurer for A&B, which include oversight of all financial matters of A&B and its subsidiaries, as well as the company's corporate development activities. He will continue to report to Doane.

In making the announcement, Doane said, “This promotion recognizes Jim's growing leadership responsibilities and the contributions he has made to A&B's progress since he joined us in a senior executive position two years ago. It also indicates the increasingly important role he has assumed at A&B. A&B was fortunate to gain, in Jim, a key executive with experience, skills and vision.”

Andrasick joined A&B in June 2000 as senior vice president, chief financial officer and treasurer. He had previously been president and chief operating officer of C. Brewer and Company, Limited, having initially joined C. Brewer in 1978; he subsequently held increasingly responsible positions, including nine years as its chief financial officer before being named president.

Andrasick, 58, was born in Passaic, New Jersey and has lived in Hawaii for the past 24 years. He is a graduate of the U. S. Coast Guard Academy where he received a B. S. in engineering; he went on to receive a Masters in Management Science from the Massachusetts Institute of Technology.

Andrasick serves as national trustee of the U.S. Coast Guard Foundation. Within the Hawaii community, he is a director and past chairman of the board of the American Red Cross; director of the March of Dimes; and serves on the board of the Hawaii Opera Theatre. Previously, he served on the boards of Aloha United Way, the Arthritis Foundation, Hawaii Maritime Center, as chairman and trustee of the University of Hawaii Foundation, and as chairman and board member of the Hawaii Employers Council.

Andrasick and his wife, Ginger, live in Honolulu. He has two grown sons, Chris and Greg; two grown stepsons, Matt and Brian Simon; and a foster son, Satia Tor Wang.

A&B's major lines of business are ocean transportation (Matson Navigation Company, Inc.); property development and management (A&B Properties, Inc.); and food products (Hawaiian Commercial & Sugar Company, Kauai Coffee Company). Additional information about A&B may be found at its web site: www.alexanderbaldwin.com.

Contact: Meredith J. Ching 808-525-6669