Matson

June 5, 2009

Subject:  Matson Raising Fuel Surcharge for Hawaii, Guam/CNMI and Micronesia Services by 8 Percentage Points

As a result of rapidly rising fuel related costs, Matson Navigation Company is raising its fuel surcharge by 8 percentage points, from 20 to 28 percent for its Hawaii service, and from 21.5 to 29.5 percent for its Guam/CNMI and Micronesia service, effective July 5, 2009.

"As many of our customers are aware, fuel prices have risen dramatically in recent months," said Dave Hoppes, senior vice president, ocean services. "While Matson made six consecutive decreases to its fuel surcharge in 2008 and made no adjustments from November 30, 2008 through May 23, 2009, the continuing upward trend in fuel related costs makes this new increase, the third in recent months, necessary. Fuel costs directly impact Matson and other transportation companies' operating costs and are an unavoidable expense. We had hoped that fuel costs would moderate, but just the opposite has occurred. We will continue to monitor fuel costs and adjust the fuel surcharge accordingly."

If you have any questions, please contact your local account executive or our Customer Support Center. Thank you for shipping with Matson.