Dividend Declaration

HSBC Hldgs PLC
25 September 2000


                      HSBC HOLDINGS PLC
   PAYMENT OF DIVIDENDS IN UNITED STATES DOLLARS, STERLING
                    OR HONG KONG DOLLARS

On 31 July 2000, the Directors of HSBC Holdings plc declared
a first interim dividend for 2000 of US$0.15 per ordinary
share. The dividend is payable on 5 October 2000 to
shareholders on the Principal Register or Hong Kong Overseas
Branch Register at close of business on 18 August 2000 in
cash in US dollars, sterling or Hong Kong dollars or a
combination of these currencies and with a scrip dividend
alternative.

In the absence of instructions to the contrary, shareholders
on the Principal Register will automatically receive
dividends in sterling and shareholders on the Hong Kong
Overseas Branch Register will automatically receive
dividends in Hong Kong dollars.

Dividends payable in cash in sterling or Hong Kong dollars
will be converted from US dollars at the forward exchange
rates quoted by HSBC Bank plc in London at 11.00 am on
25 September 2000 (US$1 = HK$7.7978 and £1 = US$1.4626).
Accordingly, the amount payable on 5 October 2000 will be:

               US$0.15 per share;
               approximately HK$1.16967 per share or;
               approximately £0.102557 per share.

R G Barber
Group Company Secretary
HSBC Holdings plc