SABB Interim Dividend 2002

HSBC Holdings PLC
3 July 2002

The following news release was issued today by The Saudi British Bank, a 40 per
cent indirectly-held associate of HSBC Holdings plc.

                             THE SAUDI BRITISH BANK

         DISTRIBUTES SAR332.4 MILLION AS GROSS INTERIM DIVIDEND - 2002

The Board of The Saudi British Bank (SABB) has announced the distribution of a
net interim dividend of SAR8 per share after deduction of Zakat. This will
result in a total gross interim dividend pay out of SAR332.4 million.

Dividend cheques will be issued on Wednesday, 7 August 2002 to shareholders
registered on the bank's records on Sunday, 21 July 2002.

The dividend amount will be credited to accounts of shareholders who have
instructed SABB to do so. Other shareholders who maintain accounts with SABB and
wish to have their dividend amount credited to them, should provide the share
registry with their account details. Dividend cheques will be sent by mail to
all other shareholders with full addresses listed in the shareholders' registry.



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