Director/PDMR Shareholding

HSBC Holdings PLC
16 May 2006

                                  SCHEDULE 11

NOTIFICATION OF INTERESTS OF PERSON DISCHARGING MANAGERIAL RESPONSIBILITY AND/OR
                               CONNECTED PERSONS



1. Name of the issuer

HSBC Holdings plc

2. Name of person discharging managerial responsibilities

Mr V H C Cheng

3. Name of connected person (if applicable to this transaction)

N/A

4. This notification relates to a transaction notified in accordance with DR
3.1.4R(1)(a)

5. Description of shares (including class) or derivatives or other financial
instruments relating to the shares of HSBC Holdings plc

US$0.50 ordinary shares

6. State the nature of the transaction

Acquisition / scrip dividend

7. Number of shares, derivatives or financial instruments relating to shares
acquired

1,394

8. Number of shares, derivatives or financial instruments relating to shares
disposed

9. Price per share or value of transactions

US$16.8175

10. Date and place of transactions

11 May 2006, Hong Kong

11. Date issuer informed of transactions

11 May 2006

Name of contact and telephone number for queries

Nicola Black, Assistant Secretary, 020 7991 2652

Name of duly authorised officer/official of issuer responsible for making
notification

As above

Date of notification

16 May 2006


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