Directors' Dealings

HSBC Hldgs PLC
5 November 1999


 
                 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

The HSBC Qualifying Employee Share Ownership Trust ('the QUEST') was established
by the Company as an efficient way of distributing shares to those employees
exercising options granted in the UK under the HSBC Savings-Related Share Option
Scheme ('the Scheme').

As a result of the trustee of the QUEST, HSBC QUEST Trustee (UK) Limited,
acquiring shares in the Company to satisfy the exercise of such options, a
temporary, non-beneficial, disclosable interest in the shares acquired arose for
the UK based, executive Directors of the Company and of HSBC Bank plc (formerly
Midland Bank plc) as potential beneficiaries of the QUEST.  The shares were
registered in the name of HSBC QUEST Trustee (UK) Limited, the trustee of the
QUEST.

This disclosure is therefore made on behalf of Sir John Bond, Messrs W R P
Dalton, S K Green and K R Whitson as Directors of both the Company and HSBC Bank
plc, Mr D J Flint as a Director of the Company only, and Messrs D W Baker and R
M J Orgill as Directors of HSBC Bank plc only.

HSBC Holdings plc - Ordinary Shares US$0.50 each

Date              Nature of transaction by the QUEST      Number of  Price
                                                          Shares

4 November 1999   Acquisition by subscription by the      
                  QUEST                                   75,297     750.50p

4 November 1999   Transfer by the QUEST to participants              see
                  in the Scheme                           75,297     attachment 
                                                         ------
4 November 1999   Shares held by the trustees of the
                  QUEST                                   NIL


Price per unit of shares registered in the name of HSBC QUEST Trustee (UK)
Limited on 4 November 1999 and transferred to participants of the HSBC Holdings
Savings-Related Share Option Scheme on 4 November 1999:


HSBC HOLDINGS PLC - Ordinary Shares of US$0.50 EACH


Year of grant               No. of                    Option
                            Shares                    Price (p)

1994                        20,613                    233.61

1995                        45,687                    180.60

1996                         2,650                    305.90

1997                         5,078                    452.06

1998                         1,200                    522.12

1999                            69                    539.80
                            ______
                            75,297
                            ______