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HAWAIIAN ELECTRIC INDUSTRIES, INC. BEGINS HURRICANE INIKI DAMAGE ASSESSMENT

 HAWAIIAN ELECTRIC INDUSTRIES, INC. BEGINS
 HURRICANE INIKI DAMAGE ASSESSMENT
 HONOLULU, Sept. 15 /PRNewswire/ -- Hawaiian Electric Industries, Inc. (NYSE: HE) said operations of its electric utility subsidiary were not seriously damaged by Hurricane Iniki. HEI banking and property- casualty insurance subsidiaries are beginning to asses damage to operations and customer property in the wake of the Sept. 11 hurricane that struck the island of Kauai.
 HEI's utility subsidiary, Hawaiian Electric Company (HECO), does not provide electric service to Kauai. However, HECO repair crews are being dispatched to help Kauai Electric, a subsidiary of Connecticut-based Citizens Utilities.
 Among HEI's nonutility subsidiaries, Hawaiian Insurance Group has the largest exposure to loss with about 5,000 customers on Kauai.
 "Because of communication and transportation problems it is difficult to assess the extent of the damage to our insurance customers on Kauai," said Robert F. Clarke, HEI president an chief executive officer. "We are doing our best to get additional claims adjusters to the island. The first contingent of adjusters arrived on Kauai today. Claims processing has just begun and our reinsurers have been notified. We hope to be able to quantify the financial effect on HEI within a few days."
 Hurricane Iniki passed near the island of Oahu where HECO's principal operations are located. At the height of the storm, more than 45,000 of HECO's 250,000 customers on Oahu were without power. By Monday afternoon, Sept. 14, service had been restored to almost all customers.
 American Savings Bank has four of its 45 branch offices in Kauai. The largest branch in Lihue is expected to be open for business beginning Wednesday, Sept. 16. HEI's other diversified subsidiaries were not affected.
 As of June 30, 1992, HEI's electric utility and savings bank subsidiaries generated more than 91 percent of total operating income. Insurance operations generated approximately 4 percent of year-to-date operating income.
 Hawaiian Electric Industries, Inc. is a diversified electric utility holding company delivering essential services to the people of Hawaii through its electric utility, banking, property-casualty insurance, maritime freight transportation and residential housing development subsidiaries.
 -0- 09/15/92 R
 /CONTACT: Constance H. Lau, treasurer, 808-543-7384 or Gary S. Sharpe, 808-543-7385, both of HEI/
 (HE) CO: Hawaiian Electric Industries, Inc. ST: Hawaii IN: UTI SU:


JP -- NYMON1X -- 9470 09/15/92 08:58 EDT
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Date:Sep 15, 1992
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