Director Shareholding

HSBC Holdings PLC
26 June 2003


                                            Date of notification : 26 June 2003

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                   NOTIFICATION OF DIRECTORS' SHARE INTERESTS

                              IN HSBC HOLDINGS PLC

Interests in shares of HSBC Holdings plc ("the Company") arising under sections
324 and 328 of the Companies Act 1985.

Following the acquisition of Household International, Inc. ("Household") by HSBC
Holdings plc, 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"). The HSBC (Household) Employee
Benefit Trust 2003 ("the Trust"), the Trustee of which is James Capel Nominees
Limited, has acquired HSBC shares which may be used to satisfy the exercise of
these options.

Mr W F Aldinger, a director of HSBC Holdings plc, currently holds options over
13,136,925 HSBC shares.

As a beneficiary of the Trust, Mr Aldinger also has a technical interest in all
of the HSBC shares held by the Trust:

HSBC Holdings plc - Ordinary Shares US$0.50 each
Date of transaction         Nature of transaction by the Trust                              Consideration
20 June 2003*               Transfer by the Trust of 143,605 HSBC shares to an individual   US$4.16
                            exercising options.

                            Transfer by the Trust of 106,395 HSBC shares to an individual
                            exercising options.                                             US$4.74
23 June 2003*               Transfer by the Trust of 12,305 HSBC shares to an individual    US$5.09
                            exercising options.
24 June 2003*               Transfer by the Trust of 22,000 HSBC shares to an individual    US$4.62
                            exercising options.

 *Director made aware of these transactions on 26 June 2003.

At 24 June 2003, after these transactions, the Trust held a total of 16,125,320
HSBC shares.





Heather Nicol, Company Secretarial Assistant

020 7992 1505


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