Operations in India-Amendt

HSBC HOLDINGS PLC
24 September 1999

The issuer has requested that the headline for the HSBC HOLDINGS PLC 
announcement released today at 14:30 under RNS No 218M should
be amended to read 'RE OPERATIONS IN INDIA' and not 'MERGER APPROVAL' as
previously stated. The full text shown below remains unchanged.



             HSBC CONSOLIDATES OPERATIONS IN INDIA

The three branches of HSBC Bank Middle East (formerly The
British Bank of the Middle East) in India have merged with
those of The Hongkong and Shanghai Banking Corporation
Limited. Both banks are principal members of the HSBC Group.

The merger has been approved by the Boards of Directors of
both banks and has received the approval of the Reserve Bank
of India.

Dyfrig John, Chief Executive Officer of The Hongkong and
Shanghai Banking Corporation in India, said: 'Unlike other
countries where we normally have a single commercial banking
operation, in India, for historical reasons, the Group has had
two commercial banks. We have now merged the operations of the
two banks to bring about cost efficiencies in the delivery of
a uniform level of service to our customers.'

Customers continue to have access to all the products and
services previously offered by HSBC Bank Middle East in India.
Their accounts remain unchanged and deposits will earn
interest at the same rates as those agreed with HSBC Bank
Middle East. The credit facilities of corporate customers
continue as before. Personal banking customers will now be
able to enjoy the additional PhoneBanking and depository
services offered by The Hongkong and Shanghai Banking
Corporation.

HSBC Bank Middle East will continue to offer its products and
services to customers in the Middle East and elsewhere.

Notes to editors:
1. HSBC in India
HSBC in India offers a full range of banking and financial
services through 26 branches of The Hongkong and Shanghai
Banking Corporation Limited. The HSBC Group has the largest
proprietary network of automated teller machines (ATMs) in
India, with 64 ATMs at 57 locations in the cities of
Bangalore, Calcutta, Chennai, Gurgaon, Hyderabad, Mumbai, New
Delhi, Trivandrum and Visakhapatnam.

2. HSBC Bank Middle East
HSBC Bank Middle East is the largest and most widely
represented international bank in the Middle East with 31
branches throughout the United Arab Emirates, Oman, Bahrain,
Qatar, Jordan, Lebanon and the Palestinian Autonomous Area,
including an  offshore banking unit in Bahrain. In addition to
its Middle Eastern network, the bank has branches in Baku,
Azerbaijan and private banking operations in London and
Geneva.

3. The HSBC Group
The Hongkong and Shanghai Banking Corporation Limited and HSBC
Bank Middle East are members of the HSBC Group which, with
over 5,000 offices in 79 countries and territories and assets
in excess of US$497 billion at 30 June 1999, is one of the
world's largest banking and financial services organisations.