Holding(s) in Company

HSBC Holdings PLC
07 January 2005


NOTIFICATION OF MAJOR INTERESTS IN SHARES


Section 198 - Companies Act 1985

The Company was notified yesterday that Credit Suisse First Boston, through its
subsidiaries listed below, had a notifiable interest as at 5 January 2005 in
460,936,485 ordinary shares of US$0.50 each in HSBC Holdings plc, representing
approximately 4.12% 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 6 January 2005 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 5 January 2005, 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"): 41,316,520 shares.
    CSFBEL is interested in 34,144,722 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): 137,335,578 shares.

 4. Credit Suisse First Boston (Hong Kong) Limited ("CSFBHK"): 281,498,592
    shares.

 5. Credit Suisse First Boston LLC ("CSFBLLC"): 751,295 shares.

 6. Credit Suisse First Boston Capital LLC ("CSFBC"): 29,400 shares

CSFB now holds a total interest of 460,936,485 being equivalent to approximately
4.12% 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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