Statement From Knight Vinke Asset Management Concerning HSBC Holdings Plc

    NEW YORK, Sept. 6 /PRNewswire/ -- In light of recent guidance published
 by the FSA (Market Watch, Issue no. 20, May 2007), Knight Vinke Asset
 Management wishes to inform the market that it intends to engage in a
 constructive dialogue with the Board and other institutional shareholders
 of HSBC Holdings plc over the future direction and governance of the Group.
 In this context, Knight Vinke wrote to the Executive Chairman on 25th May,
 met with the Group Finance Director on 12th June in New York, and wrote to
 the full Board on 4th September requesting that it undertake a fundamental
 review of the Group's strategy in consultation with shareholders. In its
 letter, Knight Vinke also raised a number of important governance-related
 concerns and asked that the Board consider these as part of the review.
     Institutional shareholders who wish to share their views with us are
 invited to contact us by e-mail at hermitage@kvamllc.com.
     About Knight Vinke Asset Management (KVAM)
     Knight Vinke Asset Management is an institutional asset management firm
 which specialises in the linkage between value creation and better
 governance in large cap public companies. Its clients include some of the
 world's largest public pension funds and institutional investors,
 including, in particular, CalPERS -- the California Public Employees'
 Retirement System.
     This announcement is not intended, and shall not be construed, as an
 offer, solicitation, invitation or inducement to buy or sell securities or
 interests therein or other investments.
 
 

SOURCE Knight Vinke Asset Management