Director Shareholding

HSBC Hldgs PLC
15 March 2001


                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY

HSBC HOLDINGS PLC


2)  NAME OF DIRECTOR

A W JEBSON

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder
    if it is a holding of that person's spouse or children under the
    age of 18 or in respect of an non-beneficial interest

IN RESPECT OF THE DIRECTOR

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

ABACUS CORPORATE TRUSTEE LIMITED               138,294

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

AS IN 3. ABOVE

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

CONDITIONAL AWARD UNDER RESTRICTED SHARE PLAN 2000 - BENEFICIAL INTEREST

7)  Number of shares/amount of
    stock acquired

63,157

8)   (N/A %)
    of issued Class

DE MINIMIS

9)  Number of shares/amount
    of stock disposed



10)  ( N/A %)
    of issued Class


11) Class of security

ORDINARY SHARES OF US$0.50 EACH


12) Price per share

£9.5001

13) Date of transaction

12 MARCH 2001

14) Date company informed

15 MARCH 2001

15) Total holding following this notification

138,294 ORDINARY SHARES OF US$0.50 EACH

16) Total percentage holding of issued class following this notification

DE MINIMIS

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification



23) Any additional information



24) Name of contact and telephone number for queries

E A HOBLEY
020 7260 3272

25) Name and signature of authorised company official responsible for
    making this notification

   Date of Notification       15 MARCH 2001