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Pacific Century Anticipates Dividend Check Payments Will Be Mailed the Week of September 17

HONOLULU--(BUSINESS WIRE)--Sept. 14, 2001--Pacific Century Financial Corporation (PCFC) announced today that its dividend payments, scheduled to be paid on Monday, September 17, 2001, and payable to shareholders of record as of August 24, 2001, may be delayed due to air and mail service interruptions resulting from the terrorist attacks of September 11, 2001.

The delay will primarily affect approximately 5,500 to 6,000 registered shareholders receiving a dividend check by mail. PCFC anticipates that these shareholders could begin receiving their checks within the next two to three business days. However, 90 percent of the total dividend payment amount paid electronically should not experience delays. Dividend Reinvestment Plan (DRIP) participants are also not affected.

Al Landon, vice chairman and chief financial officer, said, "The terrorist attacks have been a terrible national tragedy and our heartfelt condolences go out to the victims and their families. We apologize to our affected shareholders for the delay and any inconvenience this may cause, and we want to assure them that we are taking prompt steps to deliver their checks as fast as we can."

He added, "We appreciate our shareholders' confidence in Pacific Century and thank them for their patience and understanding during this extremely difficult time."

Pacific Century Financial Corporation is a regional financial services company with locations throughout the Pacific region. Its principal subsidiary, Bank of Hawaii, is the largest commercial bank in the state of Hawaii.

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CONTACT: Pacific Century Financial Corporation
Stafford Kiguchi, 808/537-8580 (Media)
skiguchi@boh.com
Cindy Wyrick, 808/537-8430 (Investor/Analyst)
cwyrick@boh.com