Director/PDMR Shareholding

HSBC Holdings PLC
02 April 2008

 NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY
                            AND/OR CONNECTED PERSONS



This notification relates to a transaction notified in accordance with DTR 3.1.2
R and 3.1.4 R (1)(a)


1      Name of the issuer
       HSBC Holdings plc
2      Name of the person discharging managerial responsibilities or, where applicable, the name of the
       person connected with a person discharging managerial responsibilities
       V H C Cheng, a person discharging managerial responsibilities
3      Description of shares (including class), debentures, derivatives or any other financial instruments
       relating to shares
       US$0.50 ordinary shares
4      State the nature of the transaction
       Release of 2005 Performance Share award (EPS element) of 45,911 shares under the HSBC Share Plan and
       subsequent transfer into the name of V H C Cheng
5      Number of shares, derivatives or any other financial instruments relating to shares acquired
       Acquisition of 45,911 shares from the release of the 2005 Performance Share award (EPS element)under
       the HSBC Share Plan
6      Number of shares, derivatives or any other financial instruments relating to shares disposed
       N/A
7      Price per share or value of transaction
       Nil
8      Date and place of transaction
       1 April 2008, London
9      Date issuer informed of transaction
       2 April 2008
10     Total holding following notification
       731,786
11     Name of duly authorised officer/official of issuer responsible for making notification
       Paul Stafford, Deputy Group Company Secretary, 020 7992 1509
12     Date of notification
       2 April 2008




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