Holding(s) in Company

HSBC Holdings PLC
24 March 2004


NOTIFICATION OF MAJOR INTERESTS IN SHARES

Section 198 - Companies Act 1985

The Company was notified on 23 March 2004 that Lehman Brothers International
(Europe) had a notifiable interest as at 19 March 2004 in 340,041,391 ordinary
shares of US$0.50 each in HSBC Holdings plc, representing approximately 3.06% of
the ordinary shares in issue.


A copy of the letter of notification, is quoted below.


P A Stafford

Assistant Group Secretary

HSBC Holdings plc



Letter to HSBC Holdings plc dated 23 March 2004 from Anthony Allen, Compliance
Department - Europe, Lehman Brothers International (Europe)

"Dear Sir/Madam,

                      S198 Companies Act 1985 (the "Act")

We write to inform you, pursuant to s198 of the Act, that as at the close of
business on 19th March, 2004, Lehman Brothers International (Europe) had an
interest in 340,041,391 ordinary shares of HSBC Holdings Plc (the "Company").
This represents 3.06% of the outstanding share capital of the Company.


Yours faithfully

For & on behalf of Lehman Brothers

Anthony Allen

Compliance Department - Europe"


                      This information is provided by RNS
            The company news service from the London Stock Exchange