Press Release

Prospect Heights, IL - July 23, 2003 - Household International Inc., a subsidiary of HSBC Holdings plc (NYSE: HBC), announced today that it will call all 4,000,000 shares of its Household Capital Trust I 8.25% Trust Preferred Securities due June 30, 2025 (NYSE: HIPrT) and all 8,000,000 shares of its Household Capital Trust IV 7.25% Trust Preferred Securities due December 31, 2037 (NYSE: HIPrP). The redemption price for each issue will be $25 plus accrued interest to the redemption date, which in each case, will be August 15, 2003.

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About Household
Household International is a wholly owned subsidiary of HSBC Holdings plc, one of the largest banking and financial services organizations in the world. Through its businesses, Household is a leading provider of consumer loans, credit cards, auto finance and credit insurance products in the United States, United Kingdom and Canada. In the United States, Household operates under the two oldest and most recognized names in consumer finance - HFC and Beneficial. Additionally, Household is one of the nation's largest issuers of private label and general-purpose credit cards, including The GM Card® and the AFL-CIO's Union Plus® card. For more information, visit the company's Web site at www.household.com.

Contact:
Craig Streem, Vice President - Investor Relations - North America, HSBC Holdings:
847-564-6053