HSBC Interest in Demirbank

HSBC Holdings PLC
27 June 2001


               HSBC INTEREST IN DEMIRBANK
                            

HSBC Bank plc confirms that it is participating in the
tender process of Turkey's state-owned Demirbank TAS and
that it has submitted a proposal to the Banking
Regulatory and Supervisory Agency of Turkey (BDDK). The
outcome of the tender process will be announced by the
authorities in due course.

HSBC has considerable experience in the Turkish market
having run a successful operation there since 1990. HSBC
also has considerable experience in markets undergoing
restructuring including, for example, Brazil and
Argentina.

HSBC has followed closely the measures taken by the
Turkish government to establish a comprehensive economic
reform programme and to restore stability to the
financial markets. The bank takes a very positive view of
the country's long-term prospects and is keen to expand
its business there.

Note to editors:

HSBC Holdings plc
HSBC Bank plc is a wholly-owned subsidiary of HSBC
Holdings plc. With some 6,500 offices in 79 countries and
territories and assets of US$674 billion at 31 December
2000, HSBC is one of the world's largest banking and
financial services organisations.