Subordinated Floating Rate Note Issue Increased

HSBC Hldgs PLC
18 January 2000


HSBC INCREASES US$250 MILLION SUBORDINATED FLOATING RATE
          NOTE ISSUE DUE 2010 TO US$350 MILLION

HSBC Holdings plc has increased by US$100,000,000 to
US$350,000,000 the issue of US$250,000,000 subordinated
floating rate notes due 2010, which was announced on 10
January 2000.

The notes bear a coupon of 0.62 per cent over three month
US dollar LIBOR, with a step-up in April 2005 to 1.12 per
cent. The issue price is 100 per cent.

The proceeds will be used for general corporate purposes.

Application will be made for all of the notes to be
admitted to the Official List of the London Stock
Exchange.

The lead manager to the issue and the listing agent is
HSBC Bank plc; no other managers have been appointed.