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A&B Names Names New Execs

Maritime Activity Reports, Inc.

January 23, 2004

Alexander & Baldwin, Inc. announced number of key executive promotions, effective February 9. Christopher J. Benjamin will be promoted to vice president and chief financial officer, reporting to President and CEO Doane. He currently is vice president, corporate development and planning, reporting to current CFO James S. Andrasick. Thomas A. Wellman will be promoted to vice president, controller and treasurer, reporting to Benjamin. He currently is controller and assistant treasurer and has held a variety of financial management positions with A&B and its subsidiaries. Charles W. Loomis will be promoted to associate general counsel, reporting to A&B Vice President and General Counsel Nelson N.S. Chun. Loomis will retain his position of vice president with A&B Properties, Inc. Doane said of the Benjamin and Wellman promotions, "We are pleased to have developed and promote two capable and qualified executives from within our company. I am confident that Chris and Tom have the expertise, knowledge, and enthusiasm to participate in the growth of A&B, and to manage the complex financial elements of a publicly held corporation in a responsible manner."

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