Director/PDMR Shareholding

HSBC Holdings PLC
10 March 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

Award of conditional shares under The HSBC Share Plan

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

371,858 shares

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

Nil

9. Price per share or value of transaction

Nil

10. Date and place of transaction

6 March 2006, London

11. Date issuer informed of transaction

10 March 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

10 March 2006


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