Director Shareholding

HSBC Holdings PLC
27 October 2003


                                          Date of notification : 27 October 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"), 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 potential 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

23 October 2003             Transfer by the Trust of 20,000 HSBC shares to an individual    US$4.56
                            exercising options.

24 October 2003             Transfer by the Trust of 4,013 HSBC shares to an individual     US$4.16
                            exercising options.


At 24 October 2003, after these transactions, the Trust held a total of
14,201,040 HSBC shares.

Heather Nicol, Company Secretarial Assistant
020 7992 1505

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