THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Alexander & Baldwin, Inc. (ALEX)

3/6/2006 Proxy Information

Walter A. Dods, Jr., a director of A&B, purchased two residential units on January 11, 2006, at market prices in a project being developed by a limited liability company in which a subsidiary of A&B is a member, for an aggregate purchase price of $1,950,000. Both G. Stephen Holaday, General Manager, Hawaiian Commercial & Sugar Company, and the adult son of Carson R. McKissick, a director of A&B who is not standing for reelection due to retirement, have entered into agreements to purchase condominium units in a project being developed by a limited liability company in which a subsidiary of A&B is a member, for a purchase price of $1,817,500 and $1,070,000, respectively. Charles G. King, a director of A&B, owns a 6.1 percent interest, and Mr. King's brother owns a 65 percent interest, in a corporation that has entered into a five-year commercial lease (with one five-year renewal option) at market rates with a subsidiary of A&B. The amount of rent paid in 2005 was $124,875, and the remaining aggregate rental obligation under the five-year lease term is $779,850.

Constance H. Lau, a director of A&B, has been appointed President and Chief Executive Officer of Hawaiian Electric Industries, Inc. ("HEI"), effective May 2, 2006. She also is President, Chief Executive Officer and a director of American Savings Bank, F.S.B., a subsidiary of HEI. A&B and its subsidiaries have a number of relationships with American Savings Bank, including:

American Savings Bank (i) has a 9 percent participation in A&B's $200,000,000 revolving credit and term loan agreement under which no amount was outstanding at February 15, 2006, (ii) had a 13.08 percent participation in a $130,000,000 construction loan made to a limited liability company in which a subsidiary of A&B is a member, that was paid in full on January 11, 2006, and for which a limited guarantee equal to the lesser of $15,000,000 or 15.5 percent of the outstanding loan balance was executed by an A&B subsidiary, (iii) has a $40,000,000 construction loan made to a limited liability company in which a subsidiary of A&B is a member, that had a total outstanding balance of $16,184,714 at February 15, 2006, (iv) intends to enter into a $40,000,000 construction loan with a limited liability company in which a subsidiary of A&B is a member during the first quarter of 2006, (v) is a commercial tenant in certain properties owned by A&B or its subsidiaries, under leases with terms expiring from May 2006 to December 2017, with aggregate net rents in 2005 of $455,612, and from and after January 1, 2006 of $4,090,952, and (vi) is a holdover licensee in A&B's Maui Mall Shopping Center, with a month-to-month license for a monthly rent of $1,282 per month. A&B also has two certificates of deposit with American Savings Bank that total $44,663 and which have maturities of less than six months.

In 2005, an A&B division sold electricity that it had produced to Maui Electric Company, Inc., an HEI subsidiary, in the amount of approximately $16,022,000.

Ms. Lau's spouse is the Vice Chairman, Chief Executive Officer and Director of Finance Factors, Ltd., a Hawaii-based financial institution. Finance Factors had a 2.31 percent participation in a $130,000,000 construction loan made to a limited liability company in which a subsidiary of A&B is a member, that was paid in full on January 11, 2006, and for which a limited guarantee equal to the lesser of $15,000,000 or 15.5 percent of the outstanding loan balance was executed by an A&B subsidiary. Finance Factors has two commercial leases with A&B, with terms expiring in November 2007 and November 2012, with aggregate net rents in 2005 of approximately $59,095, and from and after January 1, 2006 of approximately $450,820. In addition, Ms. Lau's brother-in-law is a partner in a law firm that was a commercial tenant in an office building owned by a subsidiary of A&B until October 2005. As part of a normal, arms-length lease renegotiation process, lease rent in 2005 was abated in return for a release of claims relating to water intrusion and for a new ten-year lease term.

The brother of Matthew J. Cox, Executive Vice President and Chief Operating Officer of Matson, is an officer in a company from which Matson leased transportation equipment in 2005 in the amount of $1,188,765.

Jeffrey N. Watanabe, a director of A&B, is a partner in a law firm that performed legal services for a limited liability company in which a subsidiary of A&B is a member.

3/8/2005 Proxy Information

Maryanna G. Shaw is wife to Charles Stockholm, Chairman of Alexander & Baldwin.

Until December 31, 2004, Walter A. Dods, Jr., a director of A&B, was Chairman of the Board and Chief Executive Officer of BancWest Corporation, and Chairman of the Board and Chief Executive Officer of its banking subsidiary, First Hawaiian Bank. Effective as of January 1, 2005, Mr. Dods ceased to be Chief Executive Officer of BancWest Corporation and First Hawaiian Bank, but continued as Chairman of the Board of BancWest Corporation and First Hawaiian Bank.

First Hawaiian Bank (i) has a 26.75 percent participation in and is agent for A&B's $200,000,000 revolving credit and term loan agreement, under which no amount was outstanding at February 15, 2005, (ii) has a revolving credit agreement with A&B under which $9,000,000 was outstanding at February 15, 2005, and which, when combined with First Hawaiian Bank's share of amounts drawn under the previously described $200,000,000 revolving credit and term loan agreement and letters of credit totaling $1,068,000, may not exceed $78,500,000, (iii) had a $25,000,000 revolving credit facility with Matson to support the issuance of commercial paper, which was terminated on August 31, 2004, with no amounts outstanding, (iv) has a 19.23 percent participation in a $130,000,000 construction loan made to a limited liability company in which a subsidiary of A&B is a member, that had a total outstanding balance of $12,000,000 at February 15, 2005, and for which a limited guarantee equal to the lesser of $15,000,000 or 15.5 percent of the outstanding loan balance was executed by an A&B subsidiary, (v) has issued letters of credit, totaling $11,375,000 as of February 15, 2005, on behalf of Matson for insurance security purposes, (vi) has issued letters of credit totaling $1,068,000, as of February 15, 2005, on behalf of a real estate subsidiary and A&B's agricultural operations in connection with a real estate development and mill operations, (vii) has five vehicle leases with Matson, totaling $96,000 as of February 15, 2005, (viii) is a commercial tenant in certain properties owned by A&B or its subsidiaries, under leases with terms expiring from May 2007 to July 2012, with aggregate net rents in 2004 of $332,360, and from and after January 1, 2005 of $1,046,140, with certain rental payments subject to renegotiation from time to time, and (ix) acts as custodian of $289,979,000 in assets for A&B's pension plan as of January 31, 2005.

Mr. Dods, who, as noted above, is a director of A&B, has entered into an agreement to purchase two residential units at market prices in a project being developed by a limited liability company in which a subsidiary of A&B is a member, for an aggregate purchase price of $1,950,000. The adult son of Carson R. McKissick, a director of A&B, has entered into an agreement to purchase a condominium unit in a project being developed by a limited liability company in which a subsidiary of A&B is a member, for a purchase price of $1,070,000. Charles G. King, a director of A&B, owns a 6.1 percent interest, and Mr. King's brother owns a 65 percent interest, in a corporation that has entered into a five-year commercial lease (with one five-year renewal option) at market rates with a subsidiary of A&B. The aggregate rental obligation under the five-year lease term is $974,100.

Constance H. Lau, a director of A&B, was a director of Hawaiian Electric Industries, Inc. ("HEI") until December 2004. She also is President, Chief Executive Officer and a director of American Savings Bank, F.S.B., a subsidiary of HEI. A&B and its subsidiaries have a number of relationships with American Savings Bank, including:

American Savings Bank (i) has a 9 percent participation in A&B's $200,000,000 revolving credit and term loan agreement under which no amount was outstanding at February 15, 2005, (ii) has a 19.23 percent participation in a $130,000,000 construction loan made to a limited liability company in which a subsidiary of A&B is a member, that had a total outstanding balance of $12,000,000 at February 15, 2005, and for which a limited guarantee equal to the lesser of $15,000,000 or 15.5 percent of the outstanding loan balance was executed by an A&B subsidiary, (iii) has a $40,000,000 construction loan made to a limited liability company in which a subsidiary of A&B is a member, that had a total outstanding balance of $581,900 at February 15, 2005, (iv) is a commercial tenant in certain properties owned by A&B or its subsidiaries, under leases with terms expiring from May 2006 to December 2017, with aggregate net rents in 2004 of $425,966, and from and after January 1, 2005 of $4,026,012, and (v) is a holdover licensee in A&B's Maui Mall Shopping Center, with a month-to-month license for a monthly rent of $1,282 per month. A&B also has four certificates of deposit with American Savings Bank that total $89,058 and which have maturities of less than six months.

In 2004, an A&B division sold electricity that it had produced to Maui Electric Company, Inc., an HEI subsidiary, in the amount of approximately $11,700,000.

Ms. Lau's spouse is the Vice Chairman, Chief Executive Officer and Director of Finance Factors, Ltd., a Hawaii-based financial institution. Finance Factors has two commercial leases with A&B, with terms expiring in November 2007 and November 2012, with aggregate net rents in 2004 of approximately $71,700, and from and after January 1, 2005 of approximately $512,000. In addition, Ms. Lau's brother-in-law is a partner in a law firm that is a commercial tenant in an office building owned by a subsidiary of A&B, with a term expiring in December 2014 and with an aggregate rent in 2004 of approximately $164,800, and from and after January 1, 2005 of approximately $1,120,600.

The brother of Matthew J. Cox, Senior Vice President and Chief Financial Officer of Matson, is an officer in a company from which Matson leased transportation equipment in 2004 in the amount of $1,499,525.

The spouse of Nelson N. S. Chun, Vice President and General Counsel of A&B, is a partner in a law firm that performed legal services for A&B in 2004 for fees in the amount of $209,577.

3/8/2004 Proxy Information

Maryanna G. Shaw is wife to Charles Stockholm, Chairman of Alexander & Baldwin.

Walter A. Dods, Jr., a director of A&B, is Chairman of the Board and Chief Executive Officer of BancWest Corporation, and Chairman of the Board and Chief Executive Officer of its banking subsidiary, First Hawaiian Bank.

First Hawaiian Bank (i) has a 24.32 percent participation in and is agent for A&B's $185,000,000 revolving credit and term loan agreement, under which no amount was outstanding at February 19, 2004, (ii) has a revolving credit agreement with A&B under which the amount outstanding ($22,500,000 was outstanding at February 19, 2004), when combined with First Hawaiian Bank's share of amounts drawn under the previously described $185,000,000 revolving credit and term loan agreement, may not exceed $70,000,000, (iii) has a $25,000,000 revolving credit facility with Matson to support the issuance of commercial paper, under which no amount was outstanding at February 19, 2004, (iv) has a 19.23 percent participation in a $130,000,000 construction loan made to a limited liability company in which a subsidiary of A&B is a member, that had a total outstanding balance of $12,000,000 at February 19, 2004, and for which a $2,500,000 loan guarantee and a limited guarantee equal to the lesser of $15,000,000 or 15.5 percent of the outstanding loan balance were executed by an A&B subsidiary, (v) has issued letters of credit, totaling $11,364,000 as of February 19, 2004, on behalf of Matson for insurance security purposes, (vi) has issued letters of credit totaling $564,000, as of February 19, 2004, on behalf of a real estate subsidiary and A&B's agricultural operations in connection with a real estate development and mill operations, (vii) has three vehicle leases with Matson, totaling $69,000 as of February 19, 2004, (viii) is a commercial tenant in certain properties owned by A&B or its subsidiaries, under leases with terms expiring from May 2007 to July 2012, with an aggregate rental obligation of $1,378,500, with certain rental payments subject to renegotiation from time to time, and (ix) acts as custodian of $276,600,000 in assets for A&B's pension plan as of February 11, 2004.

Mr. Dods, who, as noted above, is a director of A&B, has entered into an agreement to purchase two residential units at market prices in a project being developed by a limited liability company in which a subsidiary of A&B is a member, for an aggregate purchase price of $1,950,000.

Charles G. King, a director of A&B, owns a 6.1 percent interest, and Mr. King's brother owns a 65 percent interest, in a corporation which has entered into a five-year commercial lease (with one five-year renewal option) at market rates with a subsidiary of A&B. The aggregate rental obligation under the five-year lease term is $974,100.

Constance H. Lau, a nominee standing for election to A&B's Board of Directors, is a director of Hawaiian Electric Industries, Inc. and President, Chief Executive Officer and a director of its subsidiary, American Savings Bank, F.S.B.

American Savings Bank (i) has a 5.41 percent participation in A&B's $185,000,000 revolving credit and term loan agreement under which no amounts were outstanding at February 19, 2004, (ii) has a 19.23 percent participation in a $130,000,000 construction loan made to a limited liability company in which a subsidiary of A&B is a member, that had a total outstanding balance of $12,000,000 at February 19, 2004, and for which a $2,500,000 loan guarantee and a limited guarantee equal to the lesser of $15,000,000 or 15.5 percent of the outstanding loan balance were executed by an A&B subsidiary, (iii) is a commercial tenant in certain properties owned by A&B or its subsidiaries, under leases with terms expiring from May 2006 to December 2017, with an aggregate rental obligation from and after January 1, 2004 of $1,122,954, and (iv) is a holdover licensee in A&B's Maui Mall Shopping Center, with a month-to-month license for a monthly rent of $1,282.20 per month. A&B also has four certificates of deposit with American Savings Bank that total $88,538 and which have maturities of less than six months.

Ms. Lau's spouse is the Vice Chairman, Chief Executive Officer and Director of Finance Factors, Ltd., a Hawaii-based financial institution. Finance Factors has two commercial leases with A&B, with terms expiring in November 2007, with aggregate rents from and after January 1, 2004 of approximately $235,114. In addition, Ms. Lau's brother-in-law is a partner in a law firm that is a commercial tenant in an office building owned by a subsidiary of A&B, with a term expiring in December 2006 and with an aggregate rent from and after January 1, 2004 of approximately $511,290.

The spouse of Nelson N. S. Chun, Vice President and General Counsel of A&B, is a partner in a law firm that performed legal services for A&B in 2003 for fees in the amount of $123,200.