Changes Take Effect January 1, 2009

Maui Land & Pineapple Company, Inc. (NYSE:MLP) today announced the appointment of Warren Haruki as chairman and Robert (Rob) Webber as president and CEO, effective January 1, 2009. They replace David Cole who resigned earlier this week after five years as chairman, president and CEO of the 100-year old company. Cole will continue to serve as a director and will be the Company’s representative to the boards of Hawaii BioEnergy and Hawaii Superferry.

“Rob Webber is exceptionally well-equipped to steer Maui Land & Pineapple Company through these challenging economic times,” stated David C. Cole, ML&P chairman, president and CEO. “He understands and embraces the company’s vision and values and the larger role that ML&P plays in the Hawai‘i community.”

“Warren Haruki is a seasoned community and business leader with deep roots in Hawai‘i,” said Cole. “As executive chairman, Warren will bring an informed and nuanced understanding of policy and government relations matters to the management team.”

Webber joined Maui Land & Pineapple Company in May of 2006 as chief financial officer and senior vice president of business development. In March of this year, he was promoted to chief operating officer and executive vice president and has been overseeing day-to-day operations of the company.

“It has been a privilege to serve alongside David Cole and we will execute his vision for our company,” said Webber. “We have a very strong management team in place and we are well positioned to tackle the challenges ahead.”

Before joining ML&P, Webber served as president and CFO of a publicly-traded technology services company headquartered in Southern California, where he led growth initiatives and a turnaround of the business, increasing revenues by more than fifty percent to $75 million annually.

Previously, Webber served as general manager of a privately-held commercial real estate company where he led operations and regional sales. He has served as CEO of a publicly-traded digital marketing software company and CEO of the digital imaging division of a publicly-traded technology company.