Disposal

HSBC Hldgs PLC
8 November 2000


The following is the text of an advertisement which is to
appear in the Hong Kong press tomorrow:


The Stock Exchange of Hong Kong Limited takes no
responsibility for the contents of this announcement,
makes no representation as to its accuracy or
completeness and expressly disclaims any liability
whatsoever for any loss howsoever arising from or in
reliance upon the whole or any part of the contents of
this announcement.

Sale of 90% shareholding in Asia Investment Managers
Limited - Connected Transaction

A subsidiary of HSBC Holdings plc has agreed to sell 90%
of the equity of Asia Investment Managers Limited for USD 
16 million (HKD125 million)

Comfina AG, a 95.8% owned subsidiary of HSBC Holdings
plc, owns 100% of Asia Investment Managers Limited
('AIM') which is incorporated in the British Virgin
Islands and which provides fund management and
administration services to private and institutional
clients.

By a conditional agreement dated 1 November 2000, all the
conditions of which were fulfilled on 7 November 2000,
Comfina agreed to sell 60% of the equity of AIM to
Dr Hans-Rudolf Schmid, Mr Pang Shun Pen, Mr Stephan
Husler, Mr Christoph Himmelstein and an executive of AIM
('the purchasers') and to grant call options to the
purchasers over 30% of the shares in AIM. The call
options are exercisable over the next fifteen years. In
certain circumstances, Comfina may be able to exercise
put options over some of the shares. The remaining 10% of
the shares will be retained by Comfina.

Dr Schmid, Mr Pang, Mr Husler and Mr Himmelstein are
directors of AIM or of its subsidiaries but are not
otherwise connected with any other HSBC Group company.

The total amount agreed to be paid by the purchasers
represents approximately 0.06% of HSBC Holdings' net
tangible assets at 30 June 2000. The sale is a connected
transaction under the listing rules of The Stock Exchange
of Hong Kong; shareholders' approval is not required.
HSBC Holdings will include particulars of the transaction
in its 2000 Annual Report and Accounts.


Agreement date:          1 November 2000

Parties: Vendor:         Comfina AG, a 95.8% owned subsidiary
                         of HSBC Holdings plc

Purchasers:              Dr Hans-Rudolf Schmid, Mr Pang Shun
                         Pen,Mr Stephan Husler, Mr Christoph
                         Himmelstein and an executive of AIM

Assets sold:             45,000 ordinary shares in total in
                         AIM representing 90% of its ordinary
                         share capital, being sold in tranches
                         over the next fifteen years. The
                         total consideration of USD 16 million
                         (HKD 125 million) is payable in cash
                         and was negotiated on arm's-length
                         terms (based on an external valuation
                         of AIM).



For and on behalf of
HSBC Holdings plc
R G Barber
Group Company Secretary                            7 November 2000

HSBC Holdings plc
Incorporated in England with limited liability. Registered in England: number
617987 
Registered Office and Group Head Office: 10 Lower Thames Street, London EC3R
6AE, United Kingdom