A&B Third-Quarter 2009 Dividend Authorized

June 25, 2009

HONOLULU--(BUSINESS WIRE)--Jun. 25, 2009-- The Board of Directors of Alexander & Baldwin, Inc. (NYSE:ALEX) announced a third-quarter 2009 dividend of 31.5 cents per share, payable on September 3, 2009 to shareholders of record as of the close of business on August 6, 2009.

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

Source: Alexander & Baldwin, Inc.

Alexander & Baldwin, Inc.
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Meredith J. Ching, 808-525-6669
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Kevin L. Halloran, 808-525-8422