Banque Worms/ DB Group Anncmt

HSBC Holdings PLC
10 April 2002


The following is a translation of an announcement which is being issued by
Banque Worms/Deutsche Bank Group.


                       BANQUE WORMS / DEUTSCHE BANK GROUP

Within the framework of the reorganisation of its activities, Banque Worms,
member of DB Group since April 2001, announces that it has entered into
exclusive negotiations with CCF (HSBC Group), for the sale of its network of
local branches outside Paris.

This decision forms part of the realignment strategy of Banque Worms, which, for
most of its activities, is aimed at becoming the operating platform for Cash
Management, Payments and Trade Finance for all Corporate customers of DB Group
in France as well as the relationship platform for Mid-caps Corporate customers,
thus ensuring their access to the full range of products and services offered by
DB Group.




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