JV to invest in Africa

HSBC Holdings PLC
05 July 2005


                  HSBC AND HRH PRINCE ALWALEED IBN TALAL ALSAUD
                  ESTABLISH JOINT VENTURE TO INVEST IN AFRICA
                                        
HSBC Holdings plc ('HSBC') and His Royal Highness Prince Alwaleed ibn Talal
alsaud ('HRH Prince Alwaleed') have established a 50:50 joint venture to respond
to growing investment opportunities in sub-Saharan Africa. Each party will
invest up to US$200 million in promising businesses in the region.

HSBC has entered into this agreement through its wholly-owned subsidiary, HSBC
Investment Bank Holdings plc. HRH Prince Alwaleed is acting through a company
that forms part of his Kingdom Group.

The joint venture will invest in growth companies in a broad variety of sectors
across Africa. Investments will be made through a limited liability partnership
to be named HSBC Kingdom Africa Investments (Cayman) LP. The partnership and its
investments will be managed by a joint venture company and each party will have
an equal number of representatives on the Board of that company and its
investment committee.

Stephen Green, Group Chief Executive of HSBC Holdings plc, said: "HSBC has a
long and successful history of involvement in emerging markets around the world.
We are particularly pleased to be a part of this venture which aims to engage in
the development of infrastructure and economic activity in Africa. We are
excited by the prospect of being able to invest in this region alongside someone
of Prince Alwaleed's experience, knowledge and stature, and we look forward to
working together."

HRH Prince Alwaleed said: "Africa has enormous potential in multiple economic
sectors and is a major priority for me. This joint venture with HSBC will act to
build business and trade flows both regionally and globally by jointly using our
skills, contacts, organisations and equity."

Notes to editors:
     
1.   The HSBC Group

     HSBC Holdings plc is headquartered in the UK. The HSBC Group serves over 
     110 million customers worldwide from over 9,800 offices in 77 countries and
     territories in Europe, the Asia-Pacific region, the Americas, the Middle 
     East and Africa. With assets of US$1,277 billion at 31 December 2004, HSBC 
     is one of the world's largest banking and financial services organisations. 
     HSBC is marketed worldwide as 'the world's local bank'.

2.   HRH Prince Alwaleed bin Talal's Investments

     HRH Prince Alwaleed is the Chairman of Kingdom 5-KR-143, Ltd. HRH Prince
     Alwaleed's privately-owned investment arm, Kingdom Holding Company (KHC), 
     was founded in 1980. KHC and HRH Prince Alwaleed have been involved in the 
     creation of a diversified portfolio of strategic stakes in well-known 
     companies around the world, in multiple sectors covering banking, media, 
     telecommunications, technology, construction and real estate, 
     entertainment, upscale fashion, retailing, supermarkets, tourism, hotels 
     and resorts, travel and automotive manufacturing. Significant investments 
     include interests in Citigroup, Four Seasons Hotels & Resorts, the 
     George V hotel in Paris, Fairmont Hotels and Resorts, Movenpick Hotels and 
     Resorts, News Corp., Time Warner, Motorola, Apple Computers Inc., Ballast 
     Nedam, Canary Wharf, Disneyland-Paris, Saks Inc., Samba Financial Group, 
     Procter and Gamble, Amazon.com, Four Seasons London, Ford Motor Company, 
     Kodak Corporation, Rotana Video and Audio Visual and Kingdom Center.
     Investments outside of the Kingdom of Saudi Arabia are held by HRH Prince
     Alwaleed or by Trusts for the benefit of HRH Prince Alwaleed and his 
     family.


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