Director Shareholding

HSBC Holdings PLC
06 March 2003

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1) Name of company

HSBC Holdings plc

2) Name of director

Sir John Kemp-Welch

3) Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest

In respect of the Director and his spouse

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them (if notified)

(i)Sir John Kemp-Welch 40,000

(ii)Greenwood Nominees Limited 386,800


5) Please state whether notification relates to a person(s) connected
with the Director named in 2 above and identify the connected person(s)

Sir John Kemp-Welch and Lady Kemp-Welch

6) Please state the nature of the transaction. For PEP transactions
please indicate whether general/single co PEP and if discretionary/non
discretionary

Acquisition

7) Number of shares/amount of stock acquired

(i)15,000

(ii)5,000

8) Percentage of issued class

De minimis

9) Number of shares/amount of stock disposed


10) Percentage of issued class


11) Class of security

Ordinary Shares of US$0.50 each

12) Price per share

£6.775

13) Date of transaction

4 March 2003

14) Date company informed

6 March 2002

15) Total holding following this notification

426,800 Ordinary Shares of US$0.50 each

16) Total percentage holding of issued class following this notification

De minimis

If a director has been granted options by the company please complete the
following boxes

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number



21) Exercise price (if fixed at time of grant) or indication that price
is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
following this notification



23) Any additional information


24) Name of contact and telephone number for queries

Robert Musgrove, Assistant Secretary, 020 7992 1504


25) Name and signature of authorised company official responsible for
making this notification

As in 24) above


Date of Notification 6 March 2003


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