News Release

HSBC Bank USA Completes Integration of Republic Bank California N.A.

13 November 2000

NEW YORK  –  HSBC Bank USA today announced the completion of the integration of Republic Bank California N.A.

Customers now have access to a host of HSBC products and services as a result of the integration of the former Republic banking systems into HSBCs systems. The organization began the integration process when it re-branded three former Republic locations in Encino, Beverly Hills and San Francisco with the HSBC logo on October 27, 2000. The organization obtained the California branches through the acquisition of Republic National Bank of New York on December 31, 1999.

In addition to offering traditional personal banking products, the California offices also provide private banking and investment services. Personal and private bankers are also available to provide expert advice about portfolio management, treasury and structured products, as well as trust and estate planning services to high net-worth individuals and families.

HSBC also offers customers HSBC Premier Asset Management, a premium international service for personal customers. The key aims of the service are to provide high value personal customers with a tailored range of products and services which make full use of HSBCs formidable financial strength and international reach. The service has particular appeal to customers who travel frequently and work internationally. HSBC today spans 81 countries and territories worldwide and the HSBC Premier service is accessible to customers in virtually every major city in the world.

"We are very excited about expanding our presence in California," said Youssef Nasr, president and CEO of HSBC Bank USA. "Through the newly converted branches, we are able to offer residents easier access to HSBCs products and services. We are also able to provide our New York-based customers, as well as our international customers who travel to California for vacation or business the high level of customer service they receive from HSBC branches in other locations."