HSBC Building in Shanghai

HSBC Holdings PLC
25 June 2007



                 HSBC CHINA HEADQUARTERS TO MOVE TO NEW BUILDING
                  IN SHANGHAI IFC - SHKP's NEW PUDONG LANDMARK

Sun Hung Kai Properties Group (SHKP) and HSBC today announced that the future
Shanghai IFC, an ambitious landmark commercial complex by SHKP, will house HSBC
China's headquarters. The move demonstrates the confidence of both companies in
the Chinese economy.

Subject to final agreement, applicable laws and regulatory approvals, it is
proposed that one of the two high-rise towers of Shanghai IFC be named 'HSBC
Building-Shanghai IFC'. It is also expected that HSBC China will occupy 20
office floors of the HSBC Building-Shanghai IFC, taking up a total gross floor
area of approximately 53,000 square metres.

Shanghai IFC is at 8 Century Avenue in the heart of the Lujiazui financial
centre. The integrated complex will contain 400,000 square metres of gross floor
area. Shanghai IFC will have twin towers and a lower block. It will provide
210,000 square metres of grade-A offices, two hotels spanning over 90,000 square
metres with 656 rooms managed by Ritz-Carlton and W hotels, plus a 100,000-
square-metre mall with an array of international retailers. The whole project is
scheduled for completion in phases from 2009 to 2010.

Stephen Green, Group Chairman of HSBC Holdings plc, said: "This investment will
further demonstrate our long-term commitment to China and our great confidence
in Shanghai's future prospects. As our China headquarters, HSBC
Building-Shanghai IFC will support the bank's plans for expansion across the
country. 2007 has already been a landmark year for HSBC, with our incorporation
in China earlier this year and the offer of renminbi services for its citizens.
We have been very impressed with SHKP for creating this world class addition to
Shanghai's skyline."

Walter Kwok, Chairman and Chief Executive of SHKP, said: "Sun Hung Kai
Properties has extensive experience developing large-scale projects that are
acknowledged for premium quality. We have gone to great lengths to make Shanghai
IFC a world-class example of excellence; employing top-notch architects and
designers to work with us on the project. Shanghai IFC will match Hong Kong's
tallest building Two IFC in terms of quality and facilities, meeting the most
exacting demands of multinational businesses."
                                  
Notes to editors:

1. Sun Hung Kai Properties Group

Sun Hung Kai Properties Group is one of the largest property companies in Hong
Kong, developing all types of premium residential and commercial projects for
sale and investment. The company is widely recognized for its quality and
comprehensive customer service.

SHKP is responsible for many Hong Kong landmarks such as its headquarters Sun
Hung Kai Centre, International Finance Centre (IFC), and International Commerce
Centre (ICC) now under construction. Upon completion, ICC will be Hong Kong's
tallest building, significantly boosting the company's portfolio and making it
one of the biggest grade-A office landlords. SHKP's portfolio also includes
large shopping centres like the trendy APM mall and notable luxury residential
projects, including The Arch and Severn 8.

The company has been increasing its mainland investments in recent years. Sun
Dong An Plaza in Wangfujing was recently re-branded Beijing APM and positioned
as a trend-setting shopping centre with an array of international retailers.
SHKP's other principal mainland projects after Shanghai IFC are an integrated
retail, office and residential complex on Huai Hai Zhong Road in Puxi, luxury
residences on the Wei Fong waterfront in Pudong, MIXC. Hangzhou and the Taihu
International Community in Wuxi.

2. HSBC Bank (China) Company Limited

HSBC Bank (China) Company Limited started operations on 2 April 2007 as a wholly
foreign-owned bank solely owned by The Hongkong and Shanghai Banking Corporation
Limited. HSBC China incorporated the previous mainland China offices of The
Hongkong and Shanghai Banking Corporation Limited. HSBC China's network
currently comprises 40 outlets, including 15 branches and 25 sub-branches. HSBC
China's headquarters is based in Pudong, Shanghai.

3. The Hongkong and Shanghai Banking Corporation Limited

Established in Hong Kong and Shanghai in 1865, The Hongkong and Shanghai Banking
Corporation Limited is the founding and a principal member of the HSBC Group.
The Hongkong and Shanghai Banking Corporation Limited has a branch in Shanghai,
which conducts foreign currency wholesale banking business. With around 10,000
offices in 82 countries and territories and assets of US$1,861 billion as at 31
December 2006, the HSBC Group is one of the world's largest banking and
financial services organisations.


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