Director Shareholding

HSBC Hldgs PLC
11 January 2001


                   NOTIFICATION OF DIRECTORS' SHARE INTERESTS
                              IN HSBC HOLDINGS PLC

Interests in shares of HSBC Holdings plc ('the Company') arising under sections
324 and 328 of the Companies Act 1985.

Following the acquisition of Credit Commercial de France (CCF) by HSBC Holdings
plc, outstanding options over CCF shares granted between 1994 and 1999 (for nil
consideration) have vested. Options granted over CCF shares in 2000 will vest 
in 2002. On exercise of the options, the CCF shares issued will become
exchangeable for ordinary shares in HSBC Holdings plc (HSBC shares) in the same
ratio as for the acquisition of CCF - 13 HSBC for 1 CCF share. The HSBC shares
are to be provided through the HSBC Holdings General Employee Benefit Trust (the
Trust), the Trustee of which is HSBC Trustee (C.I.) Limited.

Mr C F W de Croisset, a director of HSBC Holdings plc and HSBC Bank plc,
currently holds options over 186,000 CCF shares which he is obliged, upon
exercise, to exchange for 2,418,000 (186,000 x 13) HSBC shares.

As a beneficiary of the Trust, Mr de Croisset also has a technical interest in
all of the HSBC shares held by the Trust (including the HSBC shares which
corresponds to his option over CCF shares enumerated above) as follows:

HSBC Holdings plc - Ordinary Shares US$0.50 each

Date                Nature of transaction by the Trust        Consideration

                    Transfer by Trust of:                13 HSBC shares for
                                                             each CCF share
8 December 2000*    5,850
12 December 2000*   6,500
15 December 2000*   5,850
                   18,200 HSBC shares to individuals exercising
                   options over 1,400 CCF shares.

At 11 January 2001 the Trust held a total of 39,838,800 HSBC shares.

* Director was made aware of the change of his interests in the Trust on 11
January 2001.