Director Shareholding

HSBC Holdings PLC
05 March 2003


                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1) Name of company

HSBC Holdings plc

2) Name of director

W R P Dalton

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)

HSBC Nominees (Hong Kong) Limited 13,042
Abacus Corporate Trustee Limited 328,680
Computershare Trustees Limited Account SIP 255
W R P Dalton 9,364

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

In respect of the Director

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

(i) Acquisition / Monthly contribution to HSBC Holdings UK Share Ownership Plan
- 3 March 2003
(ii) Acquisition / Conditional award under HSBC Holdings Restricted Share Plan
2002 - 5 March 2003

7) Number of shares/amount of stock acquired

(i) 18 - HSBC Holdings UK Share Ownership Plan
(ii) 109,004 - HSBC Holdings Restricted Share Plan 2002

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

(i) £6.89 - Acquisition 3 March 2003
(ii) £6.880427 - Acquisition 5 March 2003

13) Date of transaction

(i) 3 March 2003 - Monthly contribution to HSBC Holdings UK Share Ownership Plan
(ii) 5 March 2003 - Conditional award under HSBC Holdings Restricted Share Plan
2002

14) Date company informed

5 March 2003

15) Total holding following this notification

351,341

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

Robert Musgrove, Assistant Secretary 020 7992 1504


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

As in 24) above


Date of Notification 5 March 2003



                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1) Name of company

HSBC Holdings plc

2) Name of director

W R P Dalton

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)

HSBC Nominees (Hong Kong) Limited 13,042
Abacus Corporate Trustee Limited 328,680
Computershare Trustees Limited Account SIP 255
W R P Dalton 9,364

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

In respect of the Director

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

Exercise of options under HSBC Holdings Executive Share Option Scheme and
disposal

7) Number of shares/amount of stock acquired

124,977

8) Percentage of issued class

De minimis

9) Number of shares/amount of stock disposed

124,977

10) Percentage of issued class

De minimis

11) Class of security

Ordinary Shares of US$0.50 each

12) Price per share


Acquisition/exercise of option
22,704 shares @                 £2.4062 per share
30,273 shares @                 £2.8376 per share
36,000 shares @                 £2.1727 per share
36,000 shares @                 £3.3334 per share


Disposal
124,977 shares @                £6.695 per share



13) Date of transactions

5 March 2003

14) Date company informed

5 March 2003

15) Total holding following this notification

351,341


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

Robert Musgrove, Assistant Secretary 020 7992 1504


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

As in 24) above


Date of Notification 5 March 2003


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