A&B Third-Quarter 2008 Dividend Authorized

June 26, 2008

HONOLULU--(BUSINESS WIRE)--June 26, 2008--The Board of Directors of Alexander & Baldwin, Inc. (NASDAQ:ALEX) announced a third-quarter 2008 dividend of 31.5 cents per share, payable on September 4, 2008 to shareholders of record as of the close of business on August 7, 2008.

Alexander & Baldwin, Inc., headquartered in Honolulu, is engaged in ocean transportation and integrated 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.

CONTACT: Alexander & Baldwin, Inc.
Kevin L. Halloran, 808-525-8422
Vice President, Corporate Development and
Investor Relations

SOURCE: Alexander & Baldwin, Inc.