Director Shareholding

HSBC Holdings PLC
08 October 2003


                                           Date of notification : 8 October 2003

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                   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 Household International, Inc. ("Household") by HSBC
Holdings plc, outstanding options over Household shares granted (for nil
consideration) have been converted into options to acquire HSBC Holdings plc
ordinary shares of US$0.50 each ("HSBC shares"). The HSBC (Household) Employee
Benefit Trust 2003 ("the Trust"), the Trustee of which is James Capel Nominees
Limited, has acquired HSBC shares which may be used to satisfy the exercise of
these options.

Mr W F Aldinger, a director of HSBC Holdings plc, currently holds options over
13,136,925 HSBC shares.

As a beneficiary of the Trust, Mr Aldinger also has a technical interest in all
of the HSBC shares held by the Trust:

HSBC Holdings plc - Ordinary Shares US$0.50 each

Date of transaction   Nature of transaction by the Trust               Consideration

6 October 2003        Transfer by the Trust of 1,784 HSBC shares to    US$9.39
                      an individual exercising options.

7 October 2003        Transfer by the Trust of 14,088 HSBC shares to   US$4.16
                      an individual exercising options.


At 7 October 2003, after these transactions, the Trust held a total of
14,704,549 HSBC shares.

Robert Musgrove, Assistant Secretary

020 7992 1504


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