BISHOP STREET CAPITAL MANAGEMENT
NAMES HIRAI PRESIDENT AND CHIEF INVESTMENT OFFICER

(Honolulu, Hawaii, February 8, 2007) - Bishop Street Capital Management (BSCM), the investment management subsidiary of First Hawaiian Bank, has named Michael K. Hirai its President and Chief Investment Officer, according to an announcement today by First Hawaiian Bank President and Chief Executive Officer Don Horner.

“We are pleased to have someone with Mike's background and experience lead Bishop Street Capital Management,” according to Horner, “He has over 23 years of experience managing both fixed income and equities.”

In his new position, Hirai will be responsible for overseeing the Bank's S.E.C.-registered investment advisor firm. BSCM provides investment solutions for clients. Prior to joining First Hawaiian Bank, Hirai was Chairman of CIC/HCM Asset Management Inc., where he served as the firm's Director of Fixed Income and Chief Fixed Income Strategist.

Hirai is a graduate of Hilo High School and earned a BBA in Finance from the University of Hawaii and an MBA from the University of Southern California. He is a Chartered Financial Analyst (CFA) charter holder and a Certified Public Accountant in the State of Hawaii. He serves as a member of the State of Hawaii Council of Revenues and is a Director of CFA Hawaii.

Bishop Street Capital Management, First Hawaiian Bank's wholly-owned subsidiary, is an S.E. C. registered investment advisor. BSCM provides investment management advice to private and public institutions, foundations, endowments, and individuals and has over $3.5 billion in assets under management.

First Hawaiian Bank ($12.0 billion assets) was founded in 1858 and is Hawaii's oldest and largest bank. It has 57 branches in Hawaii, three on Guam and two on Saipan. It is a subsidiary of BancWest Corporation , a financial holding company with assets of $67.3 billion.

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