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PRESS RELEASE

HSBC Opens Global Network of Virtual Conferencing Rooms

Cisco Technology Will Save Thousands in Company Travel Costs

September 4, 2008 - HSBC today announced the opening of a new internal network of conference rooms that create an 'in-person' meeting experience. Utilizing Cisco TelePresence technology, the rooms make real-time, face-to-face interactions between key remote locations possible using advanced visual and audio collaboration technologies. With life-size, high-definition images and spatial discrete audio, Cisco TelePresence recreates the interactivity, spontaneity and nuanced communications experience of an in-person meeting.

"Our current meeting and collaboration tools provide significant increases in productivity, but are no substitute for in-person meetings," said Chief Information Officer Ken Harvey. "Cisco Telepresence gives us the experience and benefit of actually being in the room with colleagues on the other side of the world, without having to pack a suitcase."

HSBC's Cisco TelePresence rooms will initially be available at six HSBC locations worldwide; London, Chicago, Hong Kong, Mexico City, New York, and Dubai. Suites include a specially-designed table for up to six participants and incorporate cameras and displays, lighting, speakers, microphones and projection capability or, in smaller rooms, smaller equipment which can be used with existing office furniture.

For every 2,000 miles of personal air travel, one tonne of carbon dioxide is emitted into the atmosphere. A single Cisco TelePresence meeting that might have required three employees to travel from Hong Kong to Chicago, HSBC can save up to $50,000 in airfare and travel costs.

"We're proud to work with HSBC on their Cisco TelePresence initiative. Our companies are committed to doing everything we can to preserve the environment and transform the way we do business, and this technology is just the beginning," said Marthin De Beer, senior vice president for the Emerging Technologies Group at Cisco.

HSBC and Cisco are working closely with Dimension Data, a Cisco Gold Certified Partner, on the Cisco TelePresence deployment.

Media inquiries to Neil Brazil on +44 20 7992 1572 or at neilbrazil@hsbc.com

Note to editors

The HSBC Group

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from more than 9,500 offices in 85 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,547 billion at 30 June 2008, 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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