Infrastructure Project Sale

HSBC Holdings PLC
19 December 2007


                   SALE OF INTEREST IN INFRASTRUCTURE PROJECT

HSBC Infrastructure Limited, a wholly owned subsidiary of HSBC Holdings plc, has
agreed to sell loan notes and fully paid ordinary A shares representing 14.14
per cent of the issued share capital of AGP Holdings (1) Limited, the holding
company for the Home Office PFI Project, to HSBC Infrastructure Company Limited,
(HICL) for £14.4 million in cash.

HICL is a long term investor in infrastructure projects which are predominantly
in their operating phase and yielding steady returns. HICL is not owned or
controlled by the HSBC Group but HSBC Specialist Fund Management Limited, a
wholly owned subsidiary of HSBC Holdings plc, is its investment adviser.
                                  
Note to editors

HSBC Holdings plc

HSBC Holdings plc serves over 125 million customers worldwide through around
10,000 offices in 83 countries and territories in Europe, the Asia-Pacific
region, the Americas, the Middle East and Africa. With assets of some US$2,150
billion at 30 June 2007, HSBC is one of the world's largest banking and
financial services organisations. HSBC is marketed worldwide as 'the world's
local bank'.






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