HSBC redemption of bonds

HSBC Holdings PLC
31 July 2002

  REDEMPTION OF HSBC HOLDINGS PLC 11.69 PER CENT SUBORDINATED BONDS 2002 OF £1

The HSBC Holdings plc 11.69 per cent Subordinated Bonds 2002 of £1 ('the Bonds')
issued to shareholders in 1992 as part of the consideration for the acquisition
of Midland Bank plc (since renamed HSBC Bank plc) have today been redeemed.

In addition to the principal, the final interest payment for the year to 31 July
2002 is today being paid to Bondholders registered on 10 July 2002.

Any queries relating to the Bonds held in registered form should be directed to
the Registrars, Computershare Investor Services plc, on telephone number 0870
702 0137. Any queries relating to the Bonds held in bearer form should be
directed to the Paying Agent, National Westminster Bank plc, on telephone number
01293 642305.




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