First Hawaiian Bank Becomes the First Local Issuer
of MasterCard® PayPass™ Technology in Hawaii
Cardholders Can Now “Tap N Go™” when Making Purchases

Honolulu, Hawaii, October 2, 2007 - First Hawaiian Bank has become the first local financial institution to issue debit cards with a computer chip embedded in the card, according to an announcement today by Don Horner, First Hawaiian Bank president and chief executive officer.

The bank's new Priority Rewards debit card contains a MasterCard PayPass chip which allows a contactless payment option that reduces transaction times in retail establishments when compared to payments made by traditional payment cards, cash or checks. With PayPass, cardholders simply tap their debit cards on the specially-equipped terminals at participating merchants and the amount is automatically deducted from their checking account. When purchasing items under $25, no signature is required to complete the transaction. The purchaser also earns valuable reward points redeemable for cash and travel benefits. The “chip” offers better safety and convenience.

“We are pleased to provide our customers and merchant partners with the latest in computer technology. PayPass will allow our customers to get through checkout lines faster and shorten transaction times for merchants, allowing them to service more customers quickly,” Horner said. “Clearly chip technology is the future for credit and debit cards. We shall actively pursue other consumer applications for chip technology.”

In addition to First Hawaiian providing customers with MasterCard PayPass enabled debit and credit cards, the bank's Merchant Services Department will provide MasterCard PayPass point-of-sale capability to participating merchants in Hawaii, enabling them to accept contactless payments in addition to traditional magnetic stripe payments.

First Hawaiian Bank is in a unique position, as both an issuer and merchant service provider that enables chip card acceptance, to deliver convenience and time savings to cardholders, and offer merchants a service that will attract increased spending.

In addition to merchants who will be able to obtain PayPass capability through First Hawaiian Bank, the following Hawaii merchants currently or will soon accept MasterCard PayPass: McDonald's, Regal Cinemas, CVS, and Jack in the Box, among others.

The new Priority Rewards debit cards include magnetic stripe technology, so the cards can also be used in the traditional manner anywhere MasterCard is accepted around the world. PayPass technology can also be used in a number of non-card devices, such as a convenient payment tag that fits on a key chain for easy access.

About MasterCard PayPass
MasterCard PayPass is ideal for traditional cash-heavy environments where speed is essential, and has led the way in bringing contactless technology to consumer categories such as quick serve restaurants, drug stores, gas stations, vending machines, convenience stores, sports arenas, movie theaters, transit systems and parking garages. There are currently nearly 13 million PayPass cards and devices in the market, and PayPass is currently accepted globally at 56,000 merchant locations, including participating Jack in the Box, CVS, McDonald's, Regal Entertainment Group theaters and many others. PayPass is also accepted at numerous football and baseball stadiums. For more information about MasterCard PayPass and a full list of participating merchants, visit www.mastercard.com/PayPass.

About First Hawaiian Bank
First Hawaiian Bank (www.fhb.com) with total assets of $12.5 billion, 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 (www.bancwestcorp.com), a financial holding company with assets of $68.7 billion.

# # #