HSBC Trinkaus & Burkhardt

HSBC Holdings PLC
11 February 2004

The following text is the English translation of a news release issued in
Germany by HSBC Holdings plc's subsidiary.


                  HSBC TRINKAUS & BURKHARDT KgaA 2003 DIVIDEND

The Supervisory Board and Managing Partners of HSBC Trinkaus & Burkhardt, which
is approximately 73.5 per cent indirectly owned by HSBC Holdings plc, decided
today to propose to the Annual General Meeting on 8 June 2004, on the basis of
the draft results for the financial year ended 31 December 2003, the payment of
a dividend of EUR 1.75 per share (previous year EUR 1.00 per share). The main
reason for the proposed increase in the dividend payment is the marked
improvement in profits compared to the previous year.

Payment of the dividend will be made on Wednesday 9 June 2004 to holders of the
shares as at the close of business on Tuesday 8 June 2004.



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