Dividend Declaration

HSBC Holdings PLC
28 April 2003

28 April 2003

                               HSBC HOLDINGS PLC

            PAYMENT OF DIVIDENDS IN UNITED STATES DOLLARS, STERLING

                              OR HONG KONG DOLLARS


On 3 March 2003, the Directors of HSBC Holdings plc declared a second interim
dividend for 2002 of US$0.325 per ordinary share. The dividend is payable on 6
May 2003 to shareholders on the Principal Register or Hong Kong Overseas Branch
Register at close of business on 21 March 2003 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. 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 28 April 2003 (US$1 = HK$7.7990 and £1 = US$1.59595).
Accordingly, the amount payable on 6 May 2003 will be:


                US$0.325 per share;

                approximately HK$2.534675 per share; or

                approximately £0.203640 per share.


The dividend payable to holders of American Depositary Shares ('ADSs'), each of
which represents five ordinary shares, will be US$1.625 per ADS. The dividend
will be paid on 6 May 2003 in cash in US dollars or in new shares to those who
have elected to receive the scrip dividend alternative. The cash dividend for
participants in the dividend reinvestment plan, operated by the depositary, will
be invested in additional ADSs.




R G Barber

Group Company Secretary

HSBC Holdings plc



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