Holding(s) in Company

HSBC Holdings PLC
23 March 2005

NOTIFICATION OF MAJOR INTERESTS IN SHARES

Section 198 - Companies Act 1985

The Company was notified today that Credit Suisse First Boston, through its
subsidiaries listed below, had a notifiable interest as at 21 March 2005 in
612,842,998 ordinary shares of US$0.50 each in HSBC Holdings plc, representing
approximately 5.48% 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 2005 from Andrew Veasey, Director,
Equities Compliance, Credit Suisse First Boston (Europe) Limited

"Dear Sirs

HSBC Holdings plc (the "Company")

This notification relates to the ordinary shares of the Company (the "shares")
and is given in fulfilment of the obligations imposed under Section 198 of the
Companies Act 1985 (the "Act").

We hereby notify you that on 21 March 2005, following disposals, CSFB (as
defined below) holds the following interests in the issued share capital of the
Company:

 1. Credit Suisse First Boston (Europe) Limited ("CSFBEL"): 65,375,166 shares.
    CSFBEL is interested in 60,009,004 of these shares under section 208(5) of
    the act by virtue of the right to redelivery of equivalent securities under
    stock lending arrangements.
 2. Credit Suisse First Boston International ("CSFBi"): 199,137,210 shares.
 3. Credit Suisse First Boston (Hong Kong) Limited ("CSFBHK"): 347,965,662
    shares.
 4. Credit Suisse First Boston LLC ("CSFBLLC"): 363,660 shares.
 5. Credit Suisse First Boston Capital LLC ("CSFBC"): 1,300 shares

CSFB now holds a total interest of 612,842,998 shares being equivalent to
approximately 5.48% of the issued share capital of the Company.

CSFBi, CSFBHK, CSFBLLC, CSFBC and CSFBEL are members of the Credit Suisse First
Boston group of companies. Those group companies which are direct or indirect
holding companies of CSFBi, CSFBHK, CSFBLLC, CSFBC and CSFBEL are each
interested by attribution in any shares in which CSFBi, CSFBHK , CSFBLLC, CSFBC
and CSFBEL are interested.

Yours faithfully

Andrew Veasey

Director - Equities Compliance "






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