Extension of Late Tender for Safra Republic Offer

HSBC Hldgs PLC
27 January 2000


HSBC ANNOUNCES EXTENSION OF LATE TENDER PERIOD FOR SAFRA REPUBLIC
                         HOLDINGS OFFER

HSBC Holdings plc has extended the period for the late tender of
shares of common stock of Safra Republic Holdings SA (SRH) to
5:00 pm Central European Time on 29 February 2000.

The further extension is being made to permit holders of SRH
common stock who have not tendered, or not properly tendered,
their shares an additional opportunity to do so. Details of the
extended late tender period will be published in the Wall Street
Journal, the International Herald Tribune, the Financial Times,
the Luxemburger Wort, Le Temps and Neue Zuercher Zeitung.

Effective at noon Eastern Standard Time in New York City on 31
December 1999, HSBC accepted 36,254,767 shares of SRH common
stock which was properly tendered by 5:00 pm Central European
Time on 29 December 1999. The shares tendered together with the
shares owned by subsidiaries of Republic New York Corporation
represented approximately 99.38 per cent of SRH's issued and
common stock. 61,200 additional shares of SRH common stock have
been tendered since 29 December 1999 representing an additional
0.09 per cent.

SRH was re-named HSBC Republic Holdings (Luxembourg) SA on 21
January 2000.