Director/PDMR Shareholding

HSBC Holdings PLC
11 April 2007


HSBC HOLDINGS PLC

Notification of transactions by Persons Discharging Managerial Responsibilities
pursuant to DTR3.1.4 R(1)(a)


The following awards of HSBC Holdings plc ordinary shares of US$0.50 each were
made to Persons Discharging Managerial Responsibility (PDMR) of HSBC Holdings
plc on 4 March 2004 under the HSBC Holdings Restricted Share Plan 2000.  The
vesting of the awards was linked to the attainment of pre-determined Total
Shareholder Return targets over a three year period.  The Company was advised on
10 April 2007 by the administrator of the HSBC Holdings Restricted Share Plan
2000 that the performance test was not passed on the third anniversary and the
following awards were forfeited with effect from 4 April 2007:

Name of PDMR                      Awards of ordinary shares of US$0.50 forfeited

D J Flint                                                                137,447
S K Green                                                                188,990
M F Geoghegan                                                            103,086
C C R Bannister                                                           42,953
V H C Cheng                                                               60,133
A A Flockhart                                                             42,953
S T Gulliver                                                              68,724
D D J John                                                                42,953
Y A Nasr                                                                  77,314


N S Black
Assistant Secretary
HSBC Holdings plc

11 April 2007



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