HSBC acquires Property Vision

HSBC Holdings PLC
2 October 2001


2 October 2001

                        HSBC ACQUIRES PROPERTY VISION

Property Vision, the UK's market leading consultancy for property buyers, has
become a member of the HSBC Group.

HSBC Republic Bank (UK) Limited has acquired Property Vision which, following
completion adjustments, will have approximately £0.5 million net asset value.
HSBC's and Property Vision's clients share similar profiles and financial
needs. The acquisition will enhance HSBC Republic Bank's property advisory
operation and enable Property Vision to expand its business as part of a large
and international financial services group. Property Vision will continue to
serve its existing clients and will retain its brand name and offices.

Property Vision was co-founded in 1983 by Willie Gething and Charlie
Ellingworth. Today the business employs 32 staff, who have a detailed
knowledge of this specialised market, from offices in London and near Newbury,
Berkshire. They advise on the purchase of property for their clients from £
400,000 upwards and negotiated on the purchase of £200 million worth of
property last year.

Willie Gething, joint founder and managing director of Property Vision, said:
'This is a fantastic opportunity for Property Vision. Joining HSBC provides a
springboard to develop our business while continuing to advise our existing
client base.'

Marcus Gregson, chief executive of HSBC Republic Bank (UK) Limited, said:
'Willie and Charlie have built a very successful firm with a terrific
reputation in the market place. The purchase of this business creates
opportunities to develop new and value-added services for our private banking
customers in the UK and overseas.'

Notes to editors

1. HSBC Republic

The HSBC Group's flagship international private banking brand, HSBC Republic
employs over 3,300 staff and provides private banking and trustee services to
high net worth individuals and their families through 33 locations in the
Americas, the Asia-Pacific region, Europe and the Middle East. It had client
assets under management in excess of US$145 billion at 30 June 2001.

2. HSBC Holdings plc

With some 6,500 offices in 78 countries and territories and assets of US$692
billion at 30 June 2001, the HSBC Group is one of the world's largest banking
and financial services organisations.

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