Director/PDMR Shareholding

HSBC Holdings PLC
21 August 2007


 NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY
                            AND/OR CONNECTED PERSONS



This notification relates to a transaction notified in accordance with DTR 3.1.2
R and 3.1.4 R (1)(a)


1      Name of the issuer

       HSBC Holdings plc

2      Name of the person discharging managerial responsibilities or, where 
       applicable, the name of the person connected with a person discharging 
       managerial responsibilities

       Esmee Fairbairn Foundation, a trust of which J W J Hughes-Hallett, a      
       person discharging managerial responsibilities, is a trustee

3      Description of shares (including class), debentures, derivatives or any 
       other financial instruments relating to shares

       US$0.50 ordinary shares

4      State the nature of the transactions

       Disposals of non-beneficial interest as Trustee in shares held by the 
       Esmee Fairbairn Foundation

5      Number of shares, derivatives or any other financial instruments relating 
       to shares acquired

       N/A

6      Number of shares, derivatives or any other financial instruments relating 
       to shares disposed

       a) 299,060
       b) 63,148
       c) 132,703
       d) 122,619

7      Price per share or value of transactions

       a) £9.083403
       b) £9.095812
       c) £8.985
       d) £8.9174

8      Date and place of transactions

       a) 2 July 2007, London
       b) 4 July 2007, London
       c) 24 July 2007, London
       d) 25 July 2007, London

       * PDMR became aware of these transactions on 21 August 2007

9      Date issuer informed of transactions

       21 August 2007

10     Total holding following notification

       670,477

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

       Nicola Black, Assistant Secretary, 020 7991 2652

12     Date of notification

       21 August 2007



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