Director Shareholding

HSBC Holdings PLC
08 March 2004

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1) Name of company

HSBC Holdings plc

2) Name of director

W R P Dalton

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

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

HSBC Nominees (Hong Kong) Limited 51,146
Abacus Corporate Trustee Limited 284,833
Computershare Trustees Limited Account SIP 463
W R P Dalton 9,908

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

In respect of the Director


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

(a) Disposal by Trustee of the HSBC Holdings Restricted Share Plan 2000 of
sufficient shares to meet tax liability upon release of 1999 conditional award

(b) Termination of fractional interest following release of 1999 conditional
award under HSBC Holdings Restricted Share Plan 2000


7) Number of shares/amount of stock acquired


8) Percentage of issued class


9) Number of shares/amount of stock disposed

 a. 17,207
 b. 2


10) Percentage of issued class

De minimis


11) Class of security

Ordinary Shares of US$0.50 each

12) Price per share

(a) £8.5175

(b) £nil


13) Date of transactions

4 March 2004


14) Date company informed

8 March 2004

15) Total holding following this notification

346,350

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 8 March 2004


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