News Release

HSBC Extends Matching of Red Cross Donations

Adds $500,000 in Effort to Generate $2 Million for Disaster Victims

18 September 2001

In response to overwhelming community support for its pledge to match contributions made in its branches for American Red Cross Disaster Relief, HSBC has extended its match by another $500,000.

After exceeding its goal of generating $1 million for the Red Cross Disaster Relief Fund in just three days, HSBC has committed another $500,000 in matching funds. Branch donations eligible for matching funds donated September 13-17 totaled $555,784.50.

"The response from the public has been phenomenal," said Youssef A Nasr, HSBC President and CEO. "We are truly seeing the American spirit at its finest."

Donors making contributions to the fund in HSBC branches have included foundations, corporations and individuals. But the vast majority of the gifts represent grass roots efforts---children breaking their piggy banks open in the branches, families signing over their tax refunds to the Red Cross, people donating their vacation funds and countless neighborhood, office and school collections, and lemonade stands.

When eligible contributions reach the $1,000,000 mark, HSBC will match that amount with another $1 million.

"We cant thank HSBC enough for its generous support," said Liz Hill, American Red Cross Development Officer. "In addition to their $1 million donation, by accepting and processing disaster relief fund contributions, HSBC branches have played an enormous role in quickly getting these funds to the people who need them most."

Even after the goal is exceeded, HSBC branches will continue accepting the contributions indefinitely. Donors can be assured that their contributions will immediately be made available to disaster victims.