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Kamehameha Schools And Alexander & Baldwin Announce Agreement For Residential Condominium In Kaka‘ako

Additionally, Kamehameha is finalizing design for a village center which will serve as a venue for locally-owned specialty shops and boutiques, entertainment, dining and community gathering. Construction on the center is expected to begin in 2013.

About Kamehameha Schools

Kamehameha Schools is a private, educational, charitable trust founded and endowed by the legacy of Princess Bernice Pauahi Bishop. Kamehameha Schools operates a statewide educational system enrolling nearly 5,400 students of Hawaiian ancestry at three K-12 campuses and 1,500 at 31 preschool sites statewide. Approximately 38,500 additional Hawaiian learners and caregivers are served each year through a range of other Kamehameha Schools’ outreach programs, community collaborations and financial aid opportunities in Hawai`i and across the continental United States. Kamehameha Schools’ educational programs are funded solely by the trust’s financial investments and income from commercial and agricultural assets, including those in Kaka‘ako, Kapalama, Mo‘ili’ili, Waialua and West Hawai‘i.

About A&B Properties

A&B Properties is Hawaii’s fourth largest private landowner, holding over 88,000 acres primarily on the islands of Maui and Kauai. A&B Properties’ diverse real estate holdings include projects on Maui, Kauai, the Big Island and in California and a commercial property/investment portfolio comprising 7.9 million square feet of retail, office and industrial space comprising 44 properties located in Hawaii and eight mainland states. Additional information may be found at A&B Properties’ web site: www.abprop.com .

Alexander & Baldwin, Inc. is headquartered in Honolulu, Hawaii and is engaged in ocean transportation and logistics services through its subsidiaries, Matson Navigation Company, Inc. and Matson Logistics, Inc.; in real estate through A&B Properties, Inc.; and in agribusiness through Hawaiian Commercial & Sugar Company. Additional information about A&B may be found at its web site: www.alexanderbaldwin.com .

Statements in this press release that are not historical facts are “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. These forward-looking statements are not guarantees of future performance. This release should be read in conjunction with Alexander & Baldwin, Inc.’s Annual Report on Form 10-K and our other filings with the SEC through the date of this release, which identify important factors that could affect the forward-looking statements in this release. We do not undertake any obligation to update our forward-looking statements.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50157284&lang=en

Copyright Business Wire 2010
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