HSBC Sub. Note Issue

HSBC Holdings PLC
19 March 2008


                              HSBC SUB. NOTE ISSUE

On 19 March 2008, HSBC Holdings plc issued EUR 1,000,000,000 of 6.25%
Subordinated Notes due 2018 (the "New Notes"). Application has been made to list
the New Notes on the London Stock Exchange.

Notes to editors:

HSBC Holdings plc
HSBC Holdings plc serves over 128 million customers worldwide through around
10,000 offices in 83 countries and territories in Europe, the Asia-Pacific
region, the Americas, the Middle East and Africa. With assets of some US$2,354
billion at 31 December 2007, 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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