Director Shareholding

HSBC Holdings PLC
12 May 2004


                         Date of notification : 12 May 2004

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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"), 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
11,630,900 HSBC shares.

As a potential 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
5 May 2004*                 Purchase by the Trust of 10,000,000 
                            HSBC shares                               £8.209663





  *The Director was made aware of this transaction on 12 May 2004



At 5 May 2004, after this transaction, the Trust held a total of 21,215,514 HSBC
shares comprising 10,215,514 HSBC shares and 2,200,000 ADRs (each of which
represents five HSBC shares).



Robert Musgrove, Assistant Secretary

020 7992 1509


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