Disposal

HSBC Hldgs PLC
28 February 2001


The following is the text of a news release issued today by
Computershare Limited, announcing its purchase of HSBC
Investment Bank Asia Holdings Limited's 50 per cent
shareholding in Central Registration Hong Kong Limited.

         COMPUTERSHARE LIMITED MOVES TO FULL OWNERSHIP
                    OF CENTRAL REGISTRATION

Computershare Limited, the 50% owner of Hong Kong's largest
share registrar, Central Registration Hong Kong Limited, has
agreed to acquire the outstanding 50% from a subsidiary of HSBC
Holdings plc for a cash consideration of A$40.0m (approx.
HK$164m). The transaction will complete within the next week.
Australian-based Computershare is the world's only global share
registrar with over 61 million shareholder accounts in its
integrated network of nine worldwide operations.

Announcing the transaction in Hong Kong, Mr. Julian Leiper,
Executive Chairman of Central Registration, said: 'The
acquisition of HSBC's share in Central Registration represents
a strategic move by Computershare to build our unique global
network of share registrars in Asia, and to own the leading
player in the region's largest securities market outside
Japan.'

Mr. Mike Scales, an HSBC representative on the Board of Central
Registration, said: 'Computershare has unequalled technical
knowledge and global experience in the specialist field of
share registration and transfer agency. As the Hong Kong market
becomes increasingly sophisticated, it is appropriate that
Computershare, whose core expertise is running share
registration businesses, should take Central registration
forward. We pass our interest in the company to Computershare
with great confidence.'

The change of control does not signal any personnel changes at
Central Registration. Mr. Leiper confirmed that the existing
management team would continue to operate the businesses. Mr.
Leiper will remain as Executive Chairman, having been seconded
to Central Registration from the UK operations of Computershare
in January 2001. Mr. David Lee will remain as Managing
Director, a position he has held for the last 10 years.

Mr. Leiper said that Computershare would be investing in
Central Registration in anticipation of a scripless market in
Hong Kong, and to align Central Registration with its other
share registration centres in key financial markets.

Commenting on the move to full ownership of Central
Registration, Mr. Chris Morris, Group Managing Director,
Computershare Limited noted: 'Increasingly, share registration
is a sophisticated, computer driven and Internet enabled
service as financial markets become global. To compete in this
business, we need significant equity in operations
strategically positioned in all of the world's key financial
centres. Hong Kong is an important link in this network and
Central Registration is the market leader.'

Mr. Morris added: 'Ownership demonstrates true commitment to
the global market place and our innovation, technology and
services are the means through which we deliver on that
commitment.'

Computershare Limited will fund the acquisition from existing
debt facilities and cash reserves.

Notes to editors

About Central Registration Hong Kong Limited
Central Registration Hong Kong Limited was formed in 1972. It
is the premier provider of registration services in Hong Kong
and has been appointed share registrar for over 200 listed
companies which includes 21 out of the 33 Hang Seng Index
constituent stocks. Significant clients include HSBC, MTRC,
Swire Group companies, Cheung Kong group and Tracker Fund. It
also acts as the warrant agent for more than 90% of the
derivative warrant issues in Hong Kong.

About Computershare Limited
Computershare Limited is incorporated in Australia  and  listed
on  the  Australian Stock Exchange (symbol: CPU) with a  market
capitalization in excess of A$4.0 billion. It has grown rapidly
from  its  base  as a provider of computer bureau  services  to
transfer  agents in Australia, and is now the world's  largest,
and  only  global,  transfer agent, with major  transfer  agent
businesses  in  Australia,  New Zealand,  the  United  Kingdom,
Ireland, the Channel Islands, South Africa, Hong Kong, the USA,
and Canada. Computershare maintains over 61 million shareholder
accounts worldwide and also supplies financial markets software
to  exchanges and market participants in Europe, North  America
and Asia.

For    more   information   visit   the   company   web    site
http://www.computershare.com

Issued on behalf of the Central Registration Hong Kong  Limited
by Ludgate Asia Limited (Weber Shandwick Worldwide).