Director Shareholding

HSBC Holdings PLC
11 October 2001


                                 SCHEDULE 11

         NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1) Name of company

HSBC Holdings plc

2) Name of director

C F W de Croisset

3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a non-beneficial
interest or in the case of an individual holder if it is a holding of that
person's spouse or children under the age of 18 or in respect of a
non-beneficial interest

In respect of the director

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them (if notified)

C F W de Croisset 34,170
HSBC Trustee (C.I.) Limited 39,149,475 (technical interest)*

5) Please state whether notification relates to a person(s) connected
with the Director named in 2 above and identify the connected person(s)

As in 3 above

6) Please state the nature of the transaction. For PEP transactions
please indicate whether general/single co PEP and if discretionary/non
discretionary

Acquisition / scrip dividend

7) Number of shares/amount of
stock acquired

533

8) Percentage of issued class

De minimis

9) Number of shares/amount of stock disposed



10) Percentage of issued class



11) Class of security

Ordinary Shares of US$0.50 each

12) Price per share

US$11.9717

13) Date of transaction

9 October 2001

14) Date company informed

11 October 2001

15) Total holding following this notification

34,170 (C F W de Croisset)
39,149,475 HSBC Trustee (C.I.) Limited (technical interest) *


* 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 will become
exchangeable for HSBC Holdings plc Ordinary Shares of US$0.50 each ('HSBC
shares') in the same ratio as for the acquisition of CCF - 13 HSBC shares 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 de Croisset 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. Additionally,
as a beneficiary of the Trust he has a technical interest in all of the HSBC
shares held by the Trust (including the HSBC shares which correspond to his
options).


16) Total percentage holding of issued class following this notification

De minimis

If a director has been granted options by the company please complete the
following boxes

17) Date of grant



18) Period during which or date on which exercisable



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



20) Description of shares or debentures involved: class, number



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



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



23) Any additional information



24) Name of contact and telephone number for queries

Peter Harvey, Company Secretarial Assistant 020 7260 0126


25) Name and signature of authorised company official responsible for
making this notification

As in 24) above


Date of Notification 11 October 2001