Central Pacific Financial Corp. Announces Second Quarter Earnings Conference Call.

HONOLULU -- Central Pacific Financial Corp. (NYSE:CPF) will report second quarter financial results on Tuesday, July 27, 2004. The earnings announcement will be available at approximately 8 a.m. EDT on the Company's website at http://investor.centralpacificbank.com. Clint Arnoldus, Chairman, President, and CEO and Neal Kanda, Vice President and Treasurer will host an earnings conference call that day at 4 p.m. EDT (10 a.m. HT) to discuss the results.

Investment professionals can access the live call by dialing 1-800-838-4403 and all current and prospective shareholders are invited to listen to the call live or the replay on the Company's website. Shortly after the call concludes, the replay will be available by dialing 1-800-428-6051 and entering passcode 365262. The replay will be available until Tuesday, August 3, 2004.

Central Pacific Financial Corp. is a Hawaii-based bank holding company with $2.5 billion in assets and whose stock is traded under the symbol "CPF". Central Pacific Bank, its wholly owned subsidiary, is Hawaii's third largest commercial bank with 24 branches statewide, including five supermarket branches and more than 70 ATMs.