The Bloomberg Honolulu Star-Bulletin Index is a price-weighted index designed to measure the performance of Hawaii-based companies. The index was developed with a base value of 100 as of December 31, 1999. A chart of the index which shows the weekly performance of its members is published weekly in the Honolulu Star-Bulletin.

---

---

Cyanotech leads way

---

Cyanotech Corp., the worst performing local stock this year, rose 4 percent this week to lead the way in the Bloomberg Honolulu Star-Bulletin index. The Kona nutritional supplement company, which reports its fiscal 2004 fourth-quarter earnings on Tuesday, closed yesterday at $1.35. The stock was the best performer in 2003 with a 370 percent gain.

Barnwell Industries Inc., which is expected to report earnings within the next 10 days, rose 2.1 percent to $44.15 to boost its index-leading performance for the year to 39.5 percent.

Hawaiian Electric Industries Inc. brought up the rear as it fell 4 percent to $47.79.

---

SOURCE: BLOOMBERG NEWS STAR-BULLETIN GRAPHIC