SALE OF FRAMLINGTON COMPLETE

HSBC Holdings PLC
31 October 2005



                      SALE OF FRAMLINGTON TO AXA COMPLETED

Framlington Holdings Limited (FHL), which is co-owned by HSBC Holdings plc and
Comerica Incorporated, has completed the sale of its 90.8 per cent stake in
London-based asset manager Framlington Group Limited to AXA Investment Managers
SA (AXA IM).

HSBC Holdings plc indirectly owns 51 per cent of FHL while Comerica Incorporated
holds 49 per cent. To acquire FHL's stake in Framlington Group, AXA IM has paid
a consideration of £178.3 million in cash with a net asset adjustment to be
determined.

The sale was announced in July of this year and has received regulatory approval
from the Financial Services Authority. AXA IM is a member of the AXA Group.

Notes to editors:

1. The HSBC Group
Serving over 110 million customers worldwide, the HSBC Group has approximately
9,700 offices in 77 countries and territories in Europe, the Asia-Pacific
region, the Americas, the Middle East and Africa. With assets of US$1,467
billion at 30 June 2005, HSBC is one of the world's largest banking and
financial services organisations. HSBC is marketed worldwide as 'the world's
local bank'.

2. Comerica Incorporated
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered
in Detroit, strategically aligned into the Business Bank, Small Business &
Personal Financial Services, and Wealth & Institutional Management. Comerica
focuses on relationships, and helping businesses and people be successful.
Comerica reported total assets of $54.3 billion at September 30, 2005.

3. AXA Group
AXA is a leader in Financial Protection, a business that involves offering its
customers - individuals as well as small, mid-sized and large businesses - a
wide range of products and services that meet their insurance, protection,
savings, retirement and financial planning needs throughout their lives. AXA
reported assets under management totalling €827 billion at June 30, 2005, net
revenues of €37 billion and underlying earnings of €1.436 billion for first-half
2005.

4. AXA Investment Managers
AXA IM is a multi-specialist asset management company within the AXA Group, a
world leader in financial protection and wealth management. AXA IM is one of the
largest European-based asset managers with approximately EUR382.4 billion***
under management. AXA IM employs over 2,100 people*** and serves clients in
thirteen countries. ***Source: AXA IM as at 30th June 2005

                                      ends



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