Director Shareholding

HSBC Holdings PLC
06 May 2004


                                               Date of notification : 6 May 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        Nature of transaction by the Trust                Consideration
transaction 

4 May 2004     Sale by the Trust of 11,027,500 HSBC shares       £8.185 per share

4 May 2004     Acquisition by the Trust of 2,200,000 HSBC ADRs,  US$73.41427 per 
               representing 11,000,000 HSBC shares               ADR



At 4 May 2004, after these transactions, the Trust held a total of 2,200,000
HSBC ADRs, representing 11,000,000 HSBC shares and 235,514 HSBC shares.



Paul Stafford

020 7992 1509


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