Directors' Dealings

HSBC Holdings PLC
24 November 1999


                   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.

The HSBC Qualifying Employee Share Ownership Trust ('the QUEST') was established
by the Company as an efficient way of distributing shares to those employees
exercising options granted in the UK under the HSBC Savings-Related Share Option
Scheme ('the Scheme').

As a result of the trustee of the QUEST, HSBC QUEST Trustee (UK) Limited,
acquiring shares in the Company to satisfy the exercise of such options, a
temporary, non-beneficial, disclosable interest in the shares acquired arose for
the UK based, executive Directors of the Company and of HSBC Bank plc (formerly
Midland Bank plc) as potential beneficiaries of the QUEST. The  shares were
registered in the name of HSBC QUEST Trustee (UK) Limited, the trustee of the
QUEST.

This disclosure is therefore made on behalf of Sir John Bond, Messrs W R P
Dalton, S K Green and K R Whitson as Directors of both the Company and HSBC Bank
plc, Mr D J Flint as a Director of the Company only, and Messrs D W Baker and R
M J Orgill as Directors of HSBC Bank plc only.

HSBC Holdings plc - Ordinary Shares US$0.50 each

                                                          Number
Date              Nature of transaction by the QUEST    of shares    Price

23 November 1999  Acquisition by subscription by the   
                  QUEST                                    68,730    830.50p

23 November 1999  Transfer by the QUEST to participants              see
                  in the Scheme                            68,730    attachment

23 November 1999  Shares held by the trustees of the
                  QUEST                                       NIL

E A Hobley
020 7260 3272 (Extn. 33272)



                   NOTIFICATION OF DIRECTORS' SHARE INTERESTS
                              IN HSBC HOLDINGS PLC

Price per unit of shares registered in the name of HSBC QUEST Trustee
(UK)Limited on 23 November 1999 and transferred to participants of the HSBC
Holdings Savings-Related Share Option Scheme on 23 November 1999:

HSBC HOLDINGS PLC - ORDINARY SHARES OF US$0.50 EACH

Year of grant        No of          Option
                    shares           price
                                       (P)

1994                14,325          233.61
1995                37,044          180.60
1996                 8,517          305.90
1997                 3,803          452.06
1998                 4,613          522.12
1999                   428          539.80

                    68,730