Director/PDMR Shareholding

HSBC Holdings PLC
17 May 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 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

       Acquisition / 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

       i)       161,053
       ii)      95,395
       iii)     38,931
       iv)      91,522
       v)       11,842


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

       N/A


7      Price per share or value of transactions

       i)       £9.042966
       ii)      £9.072
       iii)     £9.472569
       iv)      £9.406125
       v)       US$17.4801


8      Date and place of transactions

       i)       3 April 2007, London*
       ii)      4 April 2007, London*
       iii)     30 April 2007, London*
       iv)      1 May 2007, London*
       v)       10 May 2007, London

       * PDMR became aware of these transactions on 17 May 2007


9      Date issuer informed of transactions

       17 May 2007


10     Total holding following notification

       2,067,729


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

       Nicola Black, Assistant Secretary, 020 7991 2652


12     Date of notification

       17 May 2007




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