Sinopia 3Q2000 Highlights

HSBC Hldgs PLC
14 November 2000

                  
The following is an English translation of a news release issued in French by
HSBC Holdings' subsidiary in France.
               
                SINOPIA ASSET MANAGEMENT
            THIRD QUARTER 2000 - HIGHLIGHTS

* Consolidated turnover of EUR37.9 million for the first nine
  months of 2000, up 7.4 per cent over the same period in
  1999.

* Assets under management of EUR6.6 billion at 30 September
  2000, up 6.2 per cent compared to 30 September 1999.

* In line with previous years, growth in assets under
  management for the third quarter was marked by weaker
  contributions from the branch network, due to seasonal
  reallocation of private investor portfolios. However, the
  addition of a PEA fund (Plan d'Epargne an Actions) has
  strengthened the Clic Action range. This now has combined
  assets under management of more than EUR550 million.

* Growth in turnover exceeded growth in assets due to the
  range of high value-added funds launched in 2000.

* Investments made by Sinopia this year, in Italy and Hong
  Kong, should be realised in the last quarter of 2000.
  Together with the establishment of the joint-venture Sinopia
  T&D in Japan, this should boost assets under management in
  2001.

Notes to editors:

1. Sinopia Asset Management
Sinopia Asset Management is 62.0 per cent owned by CCF. 10  per
cent of its shares are listed on the ParisBourse. In July 2000,
CCF became a member of the HSBC Group.

2. HSBC Holdings plc
With some 6,000 offices in 81 countries and territories, and assets of US$580
billion at 30 June 2000, the HSBC Group is one of the world's largest banking
and financial services organisations.