Director Shareholding

HSBC Holdings PLC
12 May 2003

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1) Name of company

HSBC Holdings plc

2) Name of director

D G Eldon

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 and his spouse

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 46,220
Abacus Corporate Trustee Limited 271,357

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

D G Eldon and Mrs M M Eldon

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/scrip dividend - 1,359 shares of which 26 were a spouse's
    interest

ii.Acquisition/scrip dividend on conditional award under Restricted Share
    Plan - 7,989 shares

7) Number of shares/amount of stock acquired

9,348

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$10.7146

13) Date of transaction

6 May 2003

14) Date company informed

9 May 2003

15) Total holding following this notification

317,577

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 12 May 2003


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