HSBC Singapore sells building

HSBC Holdings PLC
03 February 2005


                    HSBC IN SINGAPORE TO SELL HSBC BUILDING
                      IN RAFFLES PLACE FOR US$92.6 MILLION

The Hongkong and Shanghai Banking Corporation Limited has entered into an
agreement to sell HSBC Building in Singapore for S$152 million (equivalent to
US$92.6 million) to CapitaCommercial Trust (CCT), a Singapore listed real estate
investment trust. The sale price comprises S$147 million (US$89.6 million) for
the building and S$5 million (US$3 million) in respect of the cost of
constructing a glass facade for the building.

Upon completion of the sale and purchase transaction, CCT has agreed to lease
the building to HSBC in Singapore for seven years. Completion of the transaction
is subject to certain conditions being met.

HSBC Building is a 21-storey office building with three basement levels with a
net lettable area of 18,624 sq m (about 200,467 sq ft).

Paul Lawrence, chief executive officer of HSBC in Singapore, said: "This is part
of the ongoing management of our assets. With the leaseback arrangement, it will
provide us with a great deal more flexibility to review our operational space
requirements going forward."

Notes to editors

1. HSBC in Singapore
The HSBC Group's history in Singapore dates back to 1877 when its founding
member, The Hongkong and Shanghai Banking Corporation Limited, opened its first
branch. Today, HSBC has a network of 10 branches incorporating four Premier
centres and 27 automated teller machines in Singapore, including four at offsite
locations. A qualifying full bank, HSBC in Singapore offers a comprehensive
range of services including personal and commercial banking, investment and
private banking, insurance, forfaiting and trustee services, leasing and
securities and capital markets services.

2. The HSBC Group
HSBC Holdings plc is headquartered in the UK. The HSBC Group serves over 110
million customers worldwide from approximately 10,000 offices in 76 countries
and territories in Europe, the Asia-Pacific region, the Americas, the Middle
East and Africa. With assets of US$1,154 billion at 30 June 2004, HSBC is one of
the world's largest banking and financial services organisations. HSBC is
marketed worldwide as 'the world's local bank'.




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