Holding(s) in Company

HSBC Holdings PLC
28 March 2002



Section 198 - Companies Act 1985

The Company was notified today that Lehman Brothers International (Europe) no
longer has a notifiable interest in the share capital of HSBC Holdings plc.



Letter to: HSBC Holdings PLC

We write to inform you, pursuant to s198 of the Act, that as at the close of 
business on 26th March 2002, the interest Lehman Brothers International (Europe)
in the ordinary share capital of HSBC  Holdings Plc (the "Company") has fallen 
below 3 percent.

Letter from: Lehman Brothers.



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