Holding(s) in Company

HSBC Holdings PLC
21 January 2003


Section 198 - Companies Act 1985


The Company was notified today by the Hong Kong Monetary Authority (for and on
behalf of the Financial Secretary of Hong Kong as Controller of the Exchange
Fund of the Hong Kong Special Administrative Region) that, as at 20 January
2003, the Hong Kong Special Administrative Region Government ("HKSAR
Government") had an interest (for the account of the Exchange Fund) in
200,002,768 ordinary shares of US$0.50 each in HSBC Holdings plc, representing
2.11% of the ordinary shares in issue. The registered holder of the shares were
HKSCC Nominees Limited (199,658,468 ordinary shares) and State Street Nominees
Limited (344,300 ordinary shares).

In addition, the HKSAR Government holds (for the account of the Exchange Fund)
units in the Tracker Fund of Hong Kong ("TraHK") acquired for the purpose of
meeting its obligations to distribute loyalty bonus units to eligible investors
under the terms of the Loyalty Bonus Scheme outlined in the prospectus for
TraHK. As a holder of units in TraHK, the HKSAR Government has an undivided
interest in all of the shares of HSBC Holdings plc held in TraHK's portfolio. As
at close of business (Hong Kong time) on 20 January 2003, to the best of the
HKSAR Government's knowledge, information and belief, TraHK's portfolio held
83,296,298 ordinary shares in HSBC Holdings plc, representing 0.88% of the
ordinary shares in issue. The HKSAR Government has no ability to exercise any
voting rights in respect of the HSBC Holdings plc shares held in TraHK's
portfolio. The HKSAR Government believe that the registered holder of the HSBC
Holdings plc shares held by TraHK is HKSCC Nominees Limited.



A copy of the letter sent to HSBC Holdings plc is below.

As a consequence, the HKSAR Government no longer has a notifiable interest in
the share capital of HSBC Holdings plc.



Letter to: HSBC Holdings plc

                     Notification of Shareholding Interest

The Hong Kong Monetary Authority (for and on behalf of the Financial Secretary
of Hong Kong as Controller of the Exchange Fund of the Hong Kong Special
Administrative Region) hereby notifies you that, as at 20 January 2003, the Hong
Kong Special Administrative Region Government (the principal address of which is
Central Government Offices, Lower Albert Road, Central, Hong Kong) had an
interest (for the account of the Exchange Fund) in 200,002,768 shares of US$0.50
each in the ordinary share capital of your Company. The registered holders of
the above shares are HKSCC Nominees Limited, holding 199,658,468 shares and
State Street Nominees Limited, holding 344,300 shares.

As the beneficial owner of the shares referred to above the Hong Kong Special
Administrative Region Government has the right to call for delivery of any or
all of these shares from the registered holders.

In addition, the Hong Kong Special Administrative Region Government holds (for
the account of the Exchange Fund) units in the Tracker Fund of Hong Kong
("TraHK") acquired for the purpose of meeting its obligations to distribute
loyalty bonus units to eligible investors under the terms of the Loyalty Bonus
Scheme outlined in the prospectus for TraHK. As a holder of units in TraHK, the
Hong Kong Special Administrative Region Government has an undivided interest in
all of the shares of HSBC Holdings plc held in TraHK's portfolio. As at close of
business (Hong Kong time) on 20 January 2003, to the best of our knowledge,
information and belief, TraHK's portfolio held 83,296,298 ordinary shares in
HSBC Holdings plc. The Hong Kong Special Administrative Region Government has no
ability to exercise any voting rights in respect of the HSBC Holdings plc shares
held in TraHK's portfolio. We believe that the registered holder of the HSBC
Holding plc shares held by TraHK is HKSCC Nominees Limited.

Letter from: The Hong Kong Monetary Authority

END


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