HSBC statement on GF Bital

HSBC Holdings PLC
18 July 2002

                    HSBC STATEMENT ON GRUPO FINANCIERO BITAL

HSBC Holdings plc (HSBC) has been granted approval by the National Banking and
Securities Commission (CNBV) in Mexico to conduct a process of due diligence
with a view to considering whether to make an offer to acquire a controlling
interest in Grupo Financiero Bital (GF Bital).

A further statement will be issued if and when appropriate.

Notes to editors:

1. HSBC Holdings plc

HSBC Holdings is one of the world's largest banking and financial services
organisations, with assets of US$696 billion at 31 December 2001 and some 7,000
offices in 81 countries and territories in Europe, the Asia-Pacific region, the
Americas, the Middle East and Africa.

2. Grupo Financiero Bital

GF Bital is one of Mexico's largest financial services groups with more than
1,380 branches and almost six million customers, the largest personal customer
base in Mexico.



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