HSBC Americas, Inc. to Change Name Effective June 28

Business Wire, June 11, 1999

NEW YORK--(BUSINESS WIRE)--June 11, 1999--

HSBC Americas, Inc., an indirectly-held, wholly-owned subsidiary of HSBC Holdings plc, will change its name to HSBC USA Inc. effective June 28, 1999.

The primary subsidiary of HSBC Americas, Inc., HSBC Bank USA, changed its name from Marine Midland Bank on March 29 of this year as part of a global branding initiative by London-based HSBC Holdings plc to unite its worldwide entities under a single name.

"The HSBC Group operates in 79 countries and territories worldwide, including subsidiaries in Canada, Central America and South America, as well as in the United States," explained Malcolm Burnett, chief executive officer of HSBC Americas, Inc. and president and CEO of HSBC Bank USA. "The new name, HSBC USA Inc., more accurately defines the scope of our holding company as HSBC's operations in the U.S."

In addition to HSBC Bank USA, HSBC Americas holds the Group's interest in the Wells Fargo HSBC Trade Bank. It also coordinates all business conducted in the United States by HSBC Holdings plc through other Group entities. With more than 5,000 offices in 79 countries and territories and assets of US$483 billion at 31 December 1998, the HSBC Group is one of the world's largest banking and financial services organizations.