Holding(s) in Company

HSBC Holdings PLC
22 March 2004



NOTIFICATION OF MAJOR INTERESTS IN SHARES

Section 198 - Companies Act 1985

The Company was notified today that Credit Suisse First Boston through its
subsidiaries listed below, had a notifiable interest as at 17 March 2004 in
331,127,521 ordinary shares of US$0.50 each in HSBC Holdings plc, representing
approximately 3.02% of the ordinary shares in issue.


A copy of the letter of notification, is quoted below.


P A Stafford
Assistant Group Secretary
HSBC Holdings plc



Letter to HSBC Holdings plc dated 19 March 2004 from Andrew Veasey, Vice
President - Legal and Compliance, Credit Suisse First Boston (Europe) Limited

"Dear Sirs

HSBC Holdings plc (the "Company")

This notification relates to the ordinary shares of the Company (the "shares")
and is given in fulfilment of the obligations imposed under Section 198 of the
Companies Act 1985 (the "Act").


We hereby notify you that on 17 March 2004, following an acquisitions, CSFB (as
defined below) holds the following interests in the issued share capital of the
Company:


 1. Credit Suisse First Boston Equities Limited ("CSFBEq"): 32,311,464 shares.
    This includes 946,122 shares in which CSFBEq is interested by virtue of the
    right to redelivery of equivalent securities under stock lending
    arrangements.


 2. Credit Suisse First Boston (Europe) Limited ("CSFBEL"): 11,154,233 shares.
    This includes 11,154,022 shares in which CSFBEL is interested by virtue of
    the right to redelivery of equivalent securities under stock lending
    arrangements.

 3. Credit Suisse First Boston International ("CSFBi"): 64,785,731 shares. This
    includes 4,889,352 shares borrowed from CSFBEL.
 4. Credit Suisse First Boston (Hong Kong) Limited ("CSFBHK"): 227,765,445
    shares.



CSFB now holds a total interest of 331,127,521 being equivalent to approximately
3.02% of the issued share capital of the Company.


CSFBEq, CSFBi, CSFBHK and CSFBEL are members of the Credit Suisse First Boston
group of companies ("CSFB"). Those group companies which are direct or indirect
holding companies of CSFBEq, CSFBi, CSFBHK and CSFBEL are each interested by
attribution in any shares in which CSFBEq, CSFBi, CSFBHK and CSFBEL are
interested.

Yours faithfully


Andrew Veasey
Vice President - Legal and Compliance"





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