First Interim Dividend 2007

HSBC Holdings PLC
25 June 2007


                               HSBC HOLDINGS PLC

            PAYMENT OF DIVIDENDS IN UNITED STATES DOLLARS, STERLING

                              OR HONG KONG DOLLARS

On 30 April 2007, the Directors of HSBC Holdings plc declared a first interim
dividend for 2007 of US$0.17 per ordinary share. The dividend is payable on 5
July 2007 to shareholders on the Principal Register, the Hong Kong Overseas
Branch Register or the Bermuda Overseas Branch Register at close of business on
18 May 2007 in cash in United States dollars, sterling or Hong Kong dollars, or
a combination of these currencies and with a scrip dividend alternative.

In the absence of instructions to the contrary, shareholders on the Principal
Register will automatically receive dividends in sterling. However, shareholders
with addresses in the United States will automatically receive dividends in
United States dollars unless they currently receive payment in one of the other
currencies or make an election to do so. In the absence of instructions to the
contrary, shareholders on the Hong Kong Overseas Branch Register and the Bermuda
Overseas Branch Register will automatically receive dividends in Hong Kong
dollars and United States dollars respectively.

Dividends payable in cash in sterling or Hong Kong dollars will be converted
from United States dollars at the forward exchange rates to 5 July 2007 quoted
by HSBC Bank plc in London at 11.00 am on 25 June 2007 (US$1 = HK$7.8094 and £1
= US$2.00015). Accordingly, the amount payable on 5 July will be:

              US$0.17 per share;

              approximately HK$1.327598 per share; or

              approximately £0.084994 per share.

The dividend payable to holders of American Depositary Shares ('ADSs'), each of
which represents five ordinary shares, will be US$0.85 per ADS. The dividend
will be paid on 5 July 2007 in cash in United States dollars or in new shares to
those who have elected to receive the scrip dividend alternative. The cash
dividend for participants in the dividend reinvestment plan, operated by the
depositary, will be invested in additional ADSs.


R G Barber

Group Company Secretary

HSBC Holdings plc


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