MEDIA RELEASE

Dear Matson Customer:

As a result of rising bunker fuel prices and other energy related costs, Matson announced today that it is raising its fuel surcharge by five percentage points, from 40.5% to 45.5%, for its Hawaii service, effective February 26, 2012. The adjustment follows three consecutive decreases in August through October 2011, which totaled seven percentage points in a six week period.

“While we were encouraged by the moderation of bunker fuel prices in the second half of 2011, that trend has been reversed in recent months,” said Dave Hoppes, senior vice president, ocean services. “Since announcing our last fuel surcharge reduction, bunker fuel prices have risen over 16 percent. Matson recognizes that energy costs are a major concern for all businesses, as well as consumers. Unfortunately, transportation companies are especially hard hit, with fuel consumption an unavoidable and significant component of operating costs. As with all increases, Matson gives our customers 30 days advance notice prior to implementation. We will continue to monitor fuel prices 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.