Holding(s) in Company

HSBC Holdings PLC
29 November 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 25 November 2004 in
510,065,792 ordinary shares of US$0.50 each in HSBC Holdings plc, representing
approximately 4.57% of the ordinary shares in issue.

A copy of the letter of notification is quoted below.

N S Black

Assistant Secretary

HSBC Holdings plc



Letter to HSBC Holdings plc dated 29 November 2004 from Andrew Veasey, Equities
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 25 November 2004, following 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"): 5,100 shares. CSFBEq
    is interested in these shares under section 208(5) of the act by virtue of
    the right to redelivery of equivalent securities under stock lending
    arrangements.

 2. Credit Suisse First Boston (Europe) Limited ("CSFBEL"): 146,441,589 shares.
    CSFBEL is interested in 133,071,979 of these shares under section 208(5) of
    the act by virtue of the right to redelivery of equivalent securities under
    stock lending arrangements.
 3. Credit Suisse First Boston International ("CSFBi): 116,300,880 shares.
 4. Credit Suisse First Boston (Hong Kong) Limited ("CSFBHK"): 247,132,623
    shares.
 5. Credit Suisse First Boston LLC ("CSFBLLC"): 143,000 shares.
 6. Credit Suisse First Boston Capital LLC ("CSFBC"): 42,600 shares

CSFB now holds a total interest of 510,065,792 being equivalent to approximately
4.57% of the issued share capital of the Company.

CSFBEq, CSFBi, CSFBHK, CSFBLLC, CSFBC 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, CSFBLLC, CSFBC
and CSFBEL are each interested by attribution in any shares in which CSFBEq,
CSFBi, CSFBHK , CSFBLLC, CSFBC and CSFBEL are interested.

Yours faithfully



Andrew Veasey

Equities Compliance"






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