Director/PDMR Shareholding

HSBC Holdings PLC
12 March 2008

 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

       S T Gulliver, a person discharging managerial responsibilities

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

       Acquisition / purchase of shares by Trustee in respect of an award of 
       restricted shares under The HSBC Share Plan

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

       458,708

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

       N/A

7      Price per share or value of transactions

       Nil

8      Date and place of transactions

       3 March 2008, London

       *PDMR became aware of the purchase of shares on 12 March 2008

9      Date issuer informed of transactions

       12 March 2008

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

       Nicola Black, Assistant Secretary, 020 7991 2652

11     Date of notification

       12 March 2008




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