HONOLULU--(BUSINESS WIRE)--Feb. 1, 2005--Hawaiian Electric Industries, Inc. (NYSE:HE) announced that its 2004 year-end earnings will be released on February 7, 2005, after market close. The Company will also conduct an audio webcast and teleconference call to review its year-end earnings on Tuesday, February 8, 2005, at 12:00 noon EST. The event can be accessed through HEI's website at http://www.hei.com or by dialing 800-798-2864, pass code: 18851071 for the teleconference call.

An online replay of the webcast will be available at the same website beginning about two hours after the event. Replays of the teleconference call will also be available approximately two hours after the event through February 22, 2005, by dialing 888-286-8010, pass code: 44811615.

Representing management will be Robert F. Clarke, chairman, president and chief executive officer, Hawaiian Electric Industries, Inc.; T. Michael May, president and chief executive officer, Hawaiian Electric Company, Inc.; Constance H. Lau, president and chief executive officer, American Savings Bank, F.S.B.; and Eric K. Yeaman, financial vice president, treasurer and chief financial officer, Hawaiian Electric Industries, Inc.

Forward-Looking Statements

The webcast/teleconference call may contain "forward-looking statements," which include statements that are predictive in nature, depend upon or refer to future events or conditions, and usually include words such as expects, anticipates, intends, plans, believes, predicts, estimates or similar expressions. In addition, any statements concerning future financial performance (including future revenues, expenses, earnings or losses or growth rates), ongoing business strategies or prospects and possible future actions, which may be provided by management, are also forward-looking statements. Forward-looking statements are based on current expectations and projections about future events and are subject to risks, uncertainties and assumptions about HEI and its subsidiaries, the performance of the industries in which they do business and economic and market factors, among other things. These forward-looking statements are not guarantees of future performance.

Forward-looking statements are referenced in the "Forward-Looking Statements and Risk Factors" discussion (which is incorporated by reference herein) set forth in HEI's Form 8-K dated December 31, 2004, and filed on January 6, 2005, and in HEI's future periodic reports that discuss important factors that could cause HEI's results to differ materially from those anticipated in such statements. Forward-looking statements speak only as of the date of the webcast/teleconference call.

HEI and its subsidiaries are a critical part of Hawaii's economy. HEI supplies power to over 400,000 customers or 93% of the Hawaii electric public utility market through its electric utilities, Hawaiian Electric Company, Maui Electric Company and Hawaii Electric Light Company, and provides a wide array of banking and other financial services to consumers and businesses through American Savings Bank, the state's third largest financial institution based on asset size.

CONTACT: Hawaiian Electric Industries, Inc.
Suzy P. Hollinger, 808-543-7385
shollinger@hei.com

SOURCE: Hawaiian Electric Industries, Inc.