Directors' Notification of Dealing in Shares

HSBC Hldgs PLC
18 April 2000


                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY

    HSBC HOLDINGS PLC


2)  NAME OF DIRECTOR

    SIR JOHN BOND


3)  Please state whether notification indicates that it is in respect of
    holding of the Director named in 2 above or 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)

    IN BEARER FORM


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

    AS IN 3 ABOVE


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

    ACQUISITION - BENEFICIAL INTEREST

7)  Number of shares/amount of
    stock acquired

    £290,000 NOMINAL

8)   (    % )  DE MINIMIS
    of issued Class

9)  Number of shares/amount
    of stock disposed



10)  (    % )
   of issued Class

11) Class of security

    HSBC CAPITAL FUNDING (STERLING 1) L.P 8.208% NON-CUMULATIVE STEP-UP      
    PERPETUAL PREFERRED SECURITIES

12) Price per share

    £1,000 PER £1,000 NOMINAL


13) Date of transaction

    13 APRIL 2000 (DIRECTOR WAS MADE AWARE OF THE TRANSACTION ON 18 APRIL 2000)


14) Date company informed

    18 APRIL 2000


15) Total holding following this notification

    £290,000 NOMINAL HSBC CAPITAL FUNDING (STERLING 1)L.P 8.208% NON-CUMULATIVE
    STEP UP PERPETUAL PREFERRED SECURITIES


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

    P A STAFFORD  0207 260 3270

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

    Date of Notification...... 18 APRIL 2000 .........