Director/PDMR Shareholding

HSBC Holdings PLC
27 July 2007

 NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY
                            AND/OR CONNECTED PERSONS



This notification relates to a transaction notified in accordance with DTR 3.1.2
R and 3.1.4 R (1)(a)


1      Name of the issuer
       HSBC Holdings plc
2      Name of the person discharging managerial responsibilities or, where applicable, the name of the
       person connected with a person discharging managerial responsibilities
       Esmee Fairbairn Foundation, a trust of which J W J Hughes-Hallett, a person discharging managerial
       responsibilities, is a trustee
3      Description of shares (including class), debentures, derivatives or any other financial instruments
       relating to shares
       US$0.50 ordinary shares
4      State the nature of the transactions
       Disposals of non-beneficial interest as Trustee in shares held by the Esmee Fairbairn Foundation
5      Number of shares, derivatives or any other financial instruments relating to shares acquired
        N/A
6      Number of shares, derivatives or any other financial instruments relating to shares disposed
       550,000
7      Price per share or value of transactions
       £8.615878
8      Date and place of transactions
       4June 2007, London*

       * PDMR became aware of these transactions on 27 June 2007
9      Date issuer informed of transactions
       27 June 2007
10     Total holding following notification
       1,288,007
11     Name of duly authorised officer/official of issuer responsible for making notification
       Nicola Black, Assistant Secretary, 020 7991 2652
12     Date of notification
       27 June 2007




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