W. Blake Baird Joins Alexander & Baldwin Board

"Blake is an accomplished and knowledgeable executive withextensive experience in real estate and finance," said Doane. "Hisfocus on global trade also will benefit A&B as our transportationbusinesses expand internationally."

Baird, 45, is president and a director of AMB Property Corporation(NYSE:AMB), headquartered in San Francisco, California, whichacquires, develops and operates industrial property throughout NorthAmerica, Europe and Asia. He joined AMB in 1999 as managing directorand chief investment officer, and was promoted to president in January2000. AMB owns more than 1,000 properties comprising approximately 118million square feet of leasable space in eleven countries.

Prior to joining AMB, Baird was a managing director at MorganStanley & Co., where he was the head of real estate investment bankingfor the Western United States. He spent 15 years at Morgan Stanley andDean Witter, the last 11 focusing on real estate.

Following the April retirements of A&B board members Charles M.Stockholm and Carson R. McKissick, Baird becomes the ninth member ofA&B's board. He also was appointed to serve on the board of MatsonNavigation Company, Inc., A&B's transportation subsidiary.

Baird earned a master's degree in business administration from NewYork University, and two bachelor's degrees - both magna cum laude -in economics from the Wharton School, and in history from the Collegeof Arts and Sciences at the University of Pennsylvania.

Baird is a member of Young Presidents' Organization, and is aformer member of the Board of Governors of NAREIT (NationalAssociation of Real Estate Investment Trusts).

Alexander & Baldwin, Inc., a diversified corporation headquarteredin Honolulu; its major lines of business are ocean transportation(Matson Navigation Company, Inc. and Matson Integrated Logistics,Inc.); real estate (A&B Properties, Inc.); and food products (HawaiianCommercial & Sugar Company, Kauai Coffee Company, Inc.). Additionalinformation about A&B may be found at its web site:www.alexanderbaldwin.com.

NOTE TO EDITOR: For a digital image of Mr. Baird, emaillhowe@abinc.com