Director Shareholding

HSBC Holdings PLC
16 May 2003

                   NOTIFICATION OF DIRECTORS' SHARE INTERESTS

                              IN HSBC HOLDINGS PLC



Interests in shares of HSBC Holdings plc ("the Company") arising under Rule
16.13 of the UK Listing Authority Listing Rules.

Following the acquisition of Household International, Inc. ("Household") by the
Company, outstanding options over Household shares granted (for nil
consideration) have been converted into options to acquire HSBC Holdings plc
ordinary shares of US$0.50 each ("HSBC shares"). On his appointment as a
Director of the Company Mr W F Aldinger had an interest in options over
13,136,925 HSBC shares, including options over 1,688,594 HSBC shares held by
Aldinger Investments, L.P. Aldinger Investments, L.P. also held 325,010 HSBC
shares, in which W F Aldinger had an interest. As part of a reorganisation of W
F Aldinger's interests in HSBC shares, on 16 May 2003 Aldinger Investments, L.P.
transferred its options over 1,688,594 HSBC shares to W F Aldinger and
transferred 325,010 HSBC shares to Aldinger 2000 Special Trust, of which W F
Aldinger is a beneficiary. The overall interests of W F Aldinger in HSBC shares
(including shares under option) is unchanged by this reorganisation of his share
interests.


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