Second Interim Dividend 2000

HSBC Hldgs PLC
21 March 2001



                        HSBC HOLDINGS PLC
                SECOND INTERIM DIVIDEND FOR 2000
                   SCRIP DIVIDEND ALTERNATIVE

On 26 February 2001, the Directors of HSBC Holdings plc declared
a second interim dividend for 2000 of US$0.285 per ordinary share
payable on 2 May 2001 to shareholders on the Register on 16 March
2001. The dividend is payable in cash in US dollars, sterling or
Hong Kong dollars, or a combination of these currencies, with a
scrip dividend alternative. The market value for the issue of new
shares under the scrip dividend alternative is:

                 US$11.8617 for each new share.

The market value is the US dollar equivalent of £8.292, being the 
average of the middle market quotations for the ordinary shares on 
the London Stock Exchange as derived from the Daily Official List for
the five business days commencing on 14 March 2001 (the day on
which the shares were first quoted ex-dividend).

Dividends payable in cash in sterling or Hong Kong dollars will
be converted from US dollars at the forward exchange rates quoted
by HSBC Bank plc in London at or about 11.00 am on 23 April 2001.

Particulars of the dividend arrangements will be mailed to
shareholders on or about 26 March 2001, and elections must be
received by the Registrars by 20 April 2001.

R G Barber
Group Company Secretary
HSBC Holdings plc