Director Shareholding

HSBC Holdings PLC
07 March 2003

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1. Name of company
HSBC Holdings plc

2. Name of director
Dr H Sohmen

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 a corporate interest of the director

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

5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)
Corporate interest - Tauro Company Limited

6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary
Disposal - corporate interest in HSBC Capital Funding (Dollar 1) L.P. 9.547% 
Non-cumulative Step-up Perpetual Preferred Securities, Series 1

7. Number of shares / amount of stock acquired



8. Percentage of issued class



9. Number of shares/amount of stock disposed
US$3,000,000 in nominal value

10. Percentage of issued class
0.22 per cent of HSBC Capital Funding (Dollar 1) L.P. 9.547% Non-cumulative 
Step-up Perpetual Preferred Securities, Series 1

11. Class of security
HSBC Capital Funding (Dollar 1) L.P. 9.547% Non-cumulative Step-up Perpetual 
Preferred Securities, Series 1

12. Price per share
US$1,266.30 per US$1,000 in nominal value

13. Date of transaction
6 March 2003

14. Date company informed
7 March 2003

15. Total holding following this notification
Nil

16. Total percentage holding of issued class following this notification
Nil

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
Robert Musgrove, Assistant Secretary, HSBC Holdings plc

Date of Notification
7 March 2003


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