Director/PDMR Shareholding

HSBC Holdings PLC
22 August 2006


         NOTIFICATION OF INTERESTS OF DIRECTOR AND/OR CONNECTED PERSONS

1. Name of the issuer

HSBC Holdings plc

2. Notification by a director pursuant to the Securities and Futures Ordinance
of Hong Kong in respect of a change in a non-beneficial interest

3. Name of director

James Hughes-Hallett

4. State whether notification relates to a director named in 3 and identify the
connected person

The director is a Trustee of the Esmee Fairbairn Foundation

5. Indicate whether the notification is in respect of a holding of the person
referred to in 3 or 4 above or in respect of a non-beneficial interest

Non-beneficial interest as Trustee

6. Description of shares (including class), debentures or derivatives or
financial instruments relating to shares

Ordinary shares of US$0.50 each

7. Name of registered shareholder(s) and, if more than one, the number of shares
held by each of them

State Street Nominees Limited 2,257,631

Chase Nominees Limited (34,664)

8. State the nature of the transaction

Disposal/Sale

9. Number of shares, debentures or financial instruments relating to shares
disposed

281,197

10. Percentage of issued class disposed

De minimis

11. Price per share/security or value of transaction

£9.4580

12. Date of transaction

5 July 2006

*The Director became aware of this transaction on 22 August 2006

13. Total holding in ordinary shares/security following notification

2,292,295

14. Date issuer informed of transaction

22 August 2006

15. Any additional information

Name of contact and telephone number for queries

Nicola Black, Assistant Secretary, 020 7991 2652

Name of duly authorised officer/official of issuer responsible for making
notification

As above

Date of notification

22 August 2006


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