Director Shareholding

HSBC Holdings PLC
01 March 2004


                                             Date of notification : 1 March 2004

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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
11,630,900 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

24 February 2004*        Transfer by the Trust of 40,125 
                         HSBC shares to an individual           US$6.42
                         exercising options.

*Director was made aware of this transaction on 1 March 2004

At 24 February 2004, after this transaction, the Trust held a total of
11,754,831 HSBC shares.


Heather Nicol, Company Secretarial Assistant
020 7992 1505


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