UK Cash Handling JV

HSBC Holdings PLC
26 November 2007


                         UK CASH HANDLING JOINT VENTURE

HSBC Bank plc today announces that it has agreed with Barclays Bank PLC to form
a 50:50 joint venture to manage the UK cash handling operations of the two
banks. The joint venture has acquired the fixed assets and operations of Loomis
AB's cash handling business in the UK, Loomis Cash Management (LCM). Each bank
has made an equity injection of £5 million into the new entity, which will be
known as Vaultex UK Limited.

The announcement follows a statement issued by Securitas AB on 26 July that it
had signed a Heads of Terms agreement with HSBC Bank plc and Barclays Bank PLC
regarding its intention to exit the cash handling services it provides the two
banks through LCM. The Heads of Terms contemplated that the exit would occur
during the fourth quarter of 2007.
                                   
Note to editors

HSBC Bank plc
HSBC serves 15.7 million customers in the UK and employs more than 40,000 UK
staff. HSBC is Britain's most recommended big bank. HSBC Bank plc is a wholly
owned subsidiary of HSBC Holdings plc, and a member of the HSBC Group. HSBC
Holdings plc serves over 125 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$2,150 billion at 30
June 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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