The Board of Directors of Alexander & Baldwin, Inc. (NYSE:AXB) today announced a second-quarter 2009 dividend of 31.5 cents per share, payable on June 4, 2009 to shareholders of record as of the close of business on May 14, 2009.

�Alexander & Baldwin (A&B) continues its outstanding history of 106 years of consecutive dividends, a reflection of the Board�s confidence in our current operations and the prospects for growth in the coming years,� said Allen Doane, chairman and chief executive officer of A&B.

In a separate matter, the Company also announced that its stock will trade under its historic ticker symbol, ALEX, on the New York Stock Exchange (�NYSE�), starting on Wednesday, May 6. �ALEX is a return to our roots as a publicly traded company, and, coupled with the prestige, visibility and efficient trading platform of NYSE, symbolizes the marriage of our storied past and bright future.�

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.

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