Acqn.Completed by HSBC BkUSA

HSBC Hldgs PLC
3 August 2000


HSBC BANK USA COMPLETES THE ACQUISITION OF CHASE'S PANAMA BANK
                           BUSINESS

HSBC Bank USA has completed the acquisition of The Chase
Manhattan Bank's branch operations in Panama, effective 
1 August, 2000.

The acquisition, as announced on 2 May 2000, covers Chase's
full-service, stand-alone bank business, which includes retail
and wholesale capabilities. HSBC will take over 11 full-service
branches located as follows: seven branches in Panama City, two
branches in Colon City, one branch in David and one branch in
Chitre.

At 31 December 1999, Chase's Panama branch operations had
approximately US$752 million in assets and US$27 million in net
book value.

HSBC has had a presence in Panama since 1972 and currently
operates as a full-service branch of HSBC Bank plc, with a
strong franchise in corporate business as well as five retail
branches. At 31 December 1999, HSBC Panama had total assets of
US$477 million.

HSBC plans to file applications with regulatory authorities to
transfer ownership of its existing Panama business from HSBC
Bank plc to HSBC Bank USA. The combined business will be the
largest lender to corporations in Panama and the Colon Free
Zone. It will be called HSBC Bank USA Panama Branch.