Subsid Dividend Declaration

HSBC Holdings PLC
14 February 2002

The following text is the English translation of a news release issued in
Germany by HSBC Holdings plc's subsidiary.

                    HSBC TRINKAUS & BURKHARDT KGaA INCREASES

                                    DIVIDEND

HSBC Trinkaus & Burkhardt KGaA, which is 73.5 per cent indirectly owned by HSBC
Holdings plc, will recommend at its Annual General Meeting on 5 June 2002 that
the dividend for the year ended 31 December 2001 is €1.75 per share. In
addition, a special dividend of €1.00 per share will be proposed,
€0.50 per share more than the additional special dividend of €0.50 per 
share paid for 2000. The total proposed distribution to shareholders is
therefore €2.75 per share, compared to €2.25 per share for 2000.

The payment of the additional special dividend of €1.00 is proposed so
that shareholders participate in the exceptional profits arising in particular
from the acceptance of the public offer by Munchener
Ruckversicherungs-Gesellschaft AG to exchange shares of ERGO-Versicherungsgruppe
AG.



                      This information is provided by RNS
            The company news service from the London Stock Exchange