Director/PDMR Shareholding

HSBC Holdings PLC
12 September 2005



                                  SCHEDULE 11

     NOTIFICATION OF INTERESTS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL
                    RESPONSIBILITY AND/OR CONNECTED PERSONS

1. Name of the issuer

HSBC Holdings plc

2. State whether the notification relates to a:

(i) transaction notified in accordance with DR 3.1.4R(1)(a); or

(ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as
extended by section 328)of the Companies Act 1985; or

(iii) Both (i) and (ii).

In respect of (ii)

3. Name of person discharging managerial responsibilities/director

James Hughes-Hallett

4. State whether notification relates to a person connected with a person
discharging managerial responsibilities/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

MSTC Nominees Limited (25,616 shares)

State Street Nominees Limited (2,891,508 shares)

8. State the nature of the transactions

i. Interests held on appointment

ii. Acquisition / purchase

iii. Disposal / sale

iv. Disposal / sale
 v. Acquisition / purchase

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

 i. 3,022,367 shares
ii. 12,000 shares

v.     32,442 shares

10. Percentage of issued class acquired

De minimis

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

iii.     130,301 shares

iv.     45,000 shares

12. Percentage of issued class disposed

De minimis

13. Price per share or value of transactions

 i. N/A - held on appointment
ii. £8.3750
iii. £8.6013
iv. £8.6550
 v. £9.3125

14. Date and place of transactions

 i. N/A - held on appointment, 1 March 2005*
ii. 26 April 2005, London*
iii. 9 May 2005, London*
iv. 25 May 2005, London*
 v. 28 July 2005, London*

* The Director became aware of these transactions on 8 September 2005

15. Total holding following notification and total percentage holding following
notification

Non-beneficial interest as Trustee in 2,917,124 shares (de minimis)

16. Date issuer informed of transactions

9 September 2005

If a person discharging managerial responsibilities has been granted options by
the issuer complete the following boxes

17. Date of grant

18. Period during which or date on which exercise can be exercised

19. Total amount paid (if any) for grant of the option

20. Description of shares or debentures involved (class and number)

21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at the time of exercise

22. Total number of shares or debentures over which options held following
notification

23. Any additional information

Name of contact and telephone number for queries

Paul Stafford, Assistant Group Secretary, 020 7992 1509

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

As above

Date of notification

12 September 2005


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