MEDIA RELEASE

Dear Matson Customer:

As a result of recent declines in bunker fuel prices, Matson announced today that it is decreasing its fuel surcharge by three percentage points, from 45.5% to 42.5% for its Hawaii service, and from 47% to 44% for its Guam/CNMI and Micronesia service, effective this Sunday, September 25, 2011. This adjustment, combined with the two percent decrease that became effective August 28, results in an overall five percentage point reduction in Matson’s fuel surcharge in the past month.

“We are pleased to be able to pass along this second consecutive decrease, which for most customers represents a reduction in shipping costs ranging from $90 to $150 per container,” said Dave Hoppes, Senior Vice President, Ocean Services. “Sustained high fuel prices have made 2011 a very challenging year for many businesses. Transportation companies have been particularly hard hit, with fuel consumption an unavoidable and significant component of operating costs. In addition, the cost of bunker fuel, which is the type of fuel consumed by most ocean carriers, rose faster over the past year than crude oil and has been slower in experiencing any declines in prices. We are encouraged by the recent moderation of bunker fuel costs, allowing us to make this second decrease. Matson has made a practice of giving 30 days notice for upward rate adjustments, but as with previous decreases, we are passing on this downward adjustment to our customers as soon as possible. We will continue to monitor fuel costs and adjust the surcharge accordingly.”

If you have any questions, please contact your local account executive or our Customer Support Center.

Thank you for shipping with Matson.