Holding(s) in Company

HSBC Holdings PLC
20 May 2005

NOTIFICATION OF MAJOR INTERESTS IN SHARES

Section 198 - Companies Act 1985

The Company was notified on 19 May 2005 that Credit Suisse First Boston, through
its subsidiaries listed below, had a notifiable interest as at 17 May 2005 in
684,319,918 ordinary shares of US$0.50 each in HSBC Holdings plc, representing
approximately 6.1% 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 19 May 2005 from Rob Daborn, Vice President,
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 17 May 2005, following acquisitions, CSFB (as
defined below) holds the following interests in the issued share capital of the
Company:

 1. Credit Suisse First Boston (Europe) Limited ("CSFBEL"): has an interest in
    55,871,394 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 International ("CSFBi"): 297,894,079 shares.
 3. Credit Suisse First Boston (Hong Kong) Limited ("CSFBHK"): 330,553,095
    shares.
 4. Credit Suisse First Boston Capital LLC("CSFBC") 1,350 shares

CSFB now holds a total interest of 684,319,918 shares being equivalent to
approximately 6.1% of the issued share capital of the Company.

CSFBEL, CSFBI, CSFBC and CSFBHK are members of the investment banking business
of Credit Suisse and reference to CSFB in this letter includes all of the
subsidiaries and affiliates of Credit Suisse operating under the Credit Suisse
First Boston name. Those CSFB companies, which are direct or indirect holding
companies of CSFBEL, CSFBI, CSFBC and CSFBHK are under the terms of section 203
of the Act, each interested by attribution in any shares in which CSFBEL,CSFBI,
CSFBI, CSFBC and CSFBHK are interested.



Yours faithfully

Rob Daborn

Vice President - Equities Compliance"






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