Director/PDMR Shareholding

HSBC Holdings PLC
06 June 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

John J Studzinski

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

Ordinary shares of US$0.50 each

6. State the nature of the transaction

Release and sale of restricted shares awarded under the Restricted Share Plan

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

N/A

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

573,718 shares

9. Price per share or value of transaction

£9.306

10. Date and place of transaction

30 May 2006, London

11. Date issuer informed of transaction

6 June 2006

Name of contact and telephone number for queries

N S Black 020 7991 2652

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

As above

Date of notification

6 June 2006


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