News Releases

Tuesday, January 03, 2006

PARKER RANCH INC. APPOINTS NEW BOARD MEMBER

Parker Ranch Incorporated recently announced the appointment of Harold S. Masumoto to the Parker Ranch, Inc. Board of Directors effective January 3, 2006. Masumoto joins other board members, Herbert M. (Monty) Richards Jr., Art C. Tokin and Randy G. Moore.

Parker Ranch, Inc. is the for-profit corporation that owns and operates the assets of the cattle ranch and real property development activities. It was formed in 1995 to manage the for-profit activities of Parker Ranch. Parker Ranch Foundation Trust trustees John B. Ray, Warren H. Haruki and Timothy E. Johns also sit on the board of Parker Ranch, Inc.

Masumoto recently retired as the Executive Director of the Research Corporation of the University of Hawai’i (RCUH) after nine years of service and as President and Chief Executive Officer of the Pacific International Center for High Technology Research (PICHTR). Masumoto’s prior positions included serving (1987-1994) as the Director of the Office of State Planning, Acting Chairman of the State Public Utilities Commission, and Special Assistant to the Governor, University of Hawaii Vice President for Administration/director of Administration; University of Hawaii Community Colleges Budget and Fiscal Officer; and various other positions at the University of Hawaii and the Hawaii State Legislature.

As Director of State Planning, Masumoto worked closely with other State agencies and with the counties in coordinating land use and development matters. As Vice President for Administration at UH, he was responsible for all financial, personnel and capital improvement activities, including long-range planning for all the campuses of the UH system.

“We are very pleased to welcome Harold to our Board of Directors,” said Parker Ranch Inc. President and CEO Chris Kanazawa. “With his extensive background in strategic planning and ability to have a broader vision, he will bring much to the table at an important time for Parker Ranch.”