HSBC Bank USA Exhibits Formula One Jaguar Racing Car in Front of Bank Branch and Hosts Racing Legend Jackie Stewart

Business Wire, Sept 14, 2000

City Desk and Photo Editors

NEW YORK--(BUSINESS WIRE)--Sept. 14, 2000

HSBC Bank USA will exhibit the Formula One Team Jaguar racing car in front of the HSBC Tower at 2 West Fortieth Street between Fifth and Sixth Avenue on Tuesday, September 19, 2000. That evening, the bank will host a private reception for car racing legend Jackie Stewart, board member of Jaguar Racing, along with Jaguar Racing Team Drivers Eddie Irvine and Johnny Herbert.

"We are very excited to be able to provide New Yorkers with an opportunity to view one of the fastest and most technically advanced cars in the world on the sidewalk of Manhattan," said Youssef A Nasr, president and CEO, HSBC Bank USA. "Formula One car racing is a sport that requires an extraordinary amount of teamwork and dedication-the same qualities that enable us to provide superior service to our customers every day."

"This is a wonderful opportunity for us to introduce New Yorkers to the world of Formula One before we compete at the U.S. Grand Prix/Formula One event in Indianapolis this weekend," said Jackie Stewart, the three-time Formula One World Champion.

HSBC is currently in its fourth year of a five-year sponsorship of the Formula One motor racing team. The team was renamed and launched as Jaguar Racing in January of this year following Ford Motor Company's purchase of the team Stewart Grand Prix in June 1999, which HSBC supported since September 1996.

From New York City, Mr. Stewart and the Jaguar Racing Team will move onto Indianapolis-the home of American motor racing-where eleven teams will compete in three days of racing in the first Formula One race in the United States since 1982. The Grand Prix/Formula One event will take place from September 22-24.

About Formula One Racing

Formula One is a set of technical regulations for single seater racing cars which is published annually by the Federation Internationale de l'Automobile (FIA), the organization that develops universal regulations for all international races. P. The regulations specify maximum and minimum dimensions, engine capacity, what is permitted technically and what is not permitted and a large number of safety measures to be incorporated in the car with a view to protecting the driver. A car built to these regulations is considered a Formula One car. 17 Formula One racing events take place in 16 countries from March to October. The races, which are broadcast in 200 countries worldwide, are the most-watched annual sporting events in the world. For more information on Jaguar Racing, visit www.jaguar-racing.com.

About HSBC Bank USA

HSBC Bank USA is a leading financial services organization with combined assets of the bank and its U.S. holding company, HSBC USA Inc., of $84.8 billion. The organization is the third largest depository institution with the most extensive branch network in New York State. In addition to having more than 430 branches throughout New York, the institution has seven branches in Florida, two in Pennsylvania, three in California through HSBC's affiliate, Republic Bank California N.A., and 11 in Panama. HSBC USA Inc. is the 13th largest U.S. holding company in total assets and is an indirectly-held, wholly-owned subsidiary of HSBC Holdings plc (NYSE:HBC), which is headquartered in London. With over 6,000 offices in 81 countries and territories and assets of US$580 billion at 31 July 2000, the HSBC Group is one of the world's largest banking and financial services organizations. For more information about HSBC Bank USA and its products and services visit www.banking.us.hsbc.com.

Note To Editors:

Please contact Tara Williams at 212-525-6282 or e-mail her at tara.c.williams@us.hsbc.com if you are interested in attending the event and/or taking photographs of the Formula One racing car.