SAN FRANCISCO – September 4, 2003 -- Matson Navigation Company, Inc. (Matson) and Matson Intermodal System, Inc. (Matson Intermodal) were both honored this year with Logistics Management magazine's Quest for Quality award. According to the publication, more than 2,700 readers participated in the 20th annual survey, which rates transportation companies in five key service areas: on-time performance, value, information technology, customer service and equipment and operations. Matson ranked number two in the ocean carrier category and received the highest score for customer service of all ocean carriers. Matson Intermodal was ranked number one in the intermodal marketing company (IMC) category and received top scores in all five service areas. This is the third consecutive year that Matson Intermodal has been honored with this award and the second time it has been ranked the number one IMC and received the highest scores in all key service areas.

To qualify for the Quest for Quality award, companies must exceed the weighted average score in their respective category. Matson's weighted score was 3.17 points higher than the average score for ocean carriers and was only .06 points behind the number one carrier. In addition to leading the category in customer service, Matson scored high in the areas of value and equipment and operations. This is Matson's fifth Quest for Quality award.

Matson Intermodal's weighted score was 3.61 points higher than the average score of for IMCs and was 2.37 points higher than second place winner, GST Corporation. While Matson Intermodal received top scores in value and information technology, it enjoyed the greatest leads in the areas on-time performance, customer service and equipment and operations. In addition to GST Corporation, Matson Intermodal was ranked above C. H. Robinson, Alliance Shippers, Exel, and Pacer Global Logistics, respectively.

“The Quest for Quality award is recognized as one of the most comprehensive customer satisfaction surveys in the industry,” said Jim Andrasick, president and CEO, Matson. “It is extremely gratifying that both Matson Navigation Company and Matson Intermodal System received such high marks in this nationwide survey and that our customers recognize and appreciate our commitment to quality service. Achieving this honor is a direct reflection of the across-the-board effort by Matson employees to deliver the best possible service in our respective markets.”

Matson provides ocean transportation, intermodal and logistics services in U.S. domestic markets. Matson is a wholly owned subsidiary of Alexander & Baldwin, Inc. of Honolulu (NASDAQ: ALEX).

CONTACT:
Jeff Hull, public relations
(415) 957-4534