Dar Es Salaam Inv Bk

HSBC Holdings PLC
28 October 2005


                        DAR ES SALAAM INVESTMENT BANK


HSBC confirmed on 17 May 2005 that it was in negotiations to acquire a majority
stake in Dar Es Salaam Investment Bank of Iraq.

Having concluded those negotiations successfully and obtained all necessary
regulatory and other approvals, HSBC has completed the acquisition of a 
70.1 per cent equity interest in Dar Es Salaam Investment Bank which, at 31
August 2005, had gross assets of IQD35,562 million^ (US$91.9 million).

Footnote:

^ Unaudited and based on local accounting rules.

Note to editors:
HSBC Holdings plc
HSBC Holdings plc is headquartered in the UK. The HSBC Group serves over 110
million customers worldwide from more than 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'.


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