Press Release

PROSPECT HEIGHTS, IL. - October 15, 2003 - To help Americans achieve their financial dreams, Household International, Inc., a subsidiary of HSBC Holdings plc (NYSE: HBC), today announced the launch of the Build Your Tomorrow^SM consumer education program.

Build Your Tomorrow combines the power of financial education with new educational opportunities. This nationwide program will provide consumers with the practical knowledge they can use to make smart financial decisions and benefit from these decisions almost immediately.

"We have a long history of providing consumers with the tools and information they need to protect and enhance their financial futures," said William F. Aldinger, chairman and chief executive officer, Household International. "Build Your Tomorrow will take our commitment to education one step further. We are encouraging people to set new financial goals and seek additional education opportunities, which in turn, will better their lives now and in the future."

As part of this program, Household and its consumer finance companies - HFC and Beneficial - are implementing several consumer education initiatives, including:

• Your Credit Counts^SM Challenge Sweepstakes and financial education workshops.
• HFC and Beneficial Build Your Tomorrow customer scholarships.
• Financial education grant program.

To emphasize the importance of this unique financial education campaign, Household has teamed with Oscar-nominated actress Angela Bassett to reach out to consumers.

"Building a more secure future for your family should be an important goal for all Americans," Bassett said. "I believe that Build Your Tomorrow can reach out to people on many levels, helping them to start building a better tomorrow today."

Your Credit Counts Challenge Sweepstakes and financial education workshops
Many consumers have never seen their credit report, the source of information used to determine a credit score. Credit scores are used by lenders to consider whether to approve a loan application and to decide what interest rate to charge. Many consumers do not realize how influential their credit score can be.

Therefore, Household is partnering with Equifax Inc. (NYSE: EFX) to launch the Your Credit Counts Challenge to promote financial education and to help consumers understand the importance of a credit score.

Consumers can visit YourCreditCounts.com® through Jan. 9, 2004 to:

• Learn more about the importance of a credit score and find tips on how to improve their score.
• Take the Credit Score Quiz, and be automatically entered in a sweepstakes to win a grand prize of $25,000, or one of 60 other cash prizes.
• Obtain a complimentary online copy of their Equifax Score Power® report, which includes their Equifax Credit Profile^TM, FICO® Credit Score - the score most lenders use^TM - and personalized score analysis valued at $12.95. (Limit one per person. Reports are only available in English.)

"We are delighted to be partnering with Household in this important consumer education effort," said Thomas F. Chapman, Equifax's chairman and CEO. "Being a part of the Build Your Tomorrow campaign expands Equifax's commitment to provide solutions which enlighten, enable and empower millions of consumers to better manage their financial health."

Additionally, Household will host free financial education workshops that focus on the basics of money management and home ownership, among other topics. In partnership with the National Council on Economic Education and the National Center for Neighborhood Enterprise more than 120 workshops will be conducted through the end of next year. For more information about the workshops, please write to communityrelations@household.com.

HFC and Beneficial Build Your Tomorrow customer scholarships
HFC and Beneficial are helping customers "build their tomorrow" by implementing a unique four-year, $8 million customer scholarship program. Qualified HFC and Beneficial customers, and their dependents, are eligible to receive up to $5,000 per calendar year to further their education - be it through a two- or four-year college or university program, non-degree classes or an accredited vocational, technical or certification program. Scholarships will be renewable for up to four years. (Scholarships are not available for graduate or post-graduate study.)

Applications for spring 2004 programs are currently being accepted. To apply for a scholarship or to request more information on the program, customers can visit www.scholarshipadministrators.net and enter code HFBEN, or call toll-free (877) 525-8491. Customers also can pick up an application at any of the 1,300-plus HFC or Beneficial branch offices located nationwide.

Financial education grant program
As part of a three-year, $3 million commitment to financial literacy, Household is sponsoring a financial education grant program that both supports local organizations and enables them to provide grassroots financial education programming for people in local communities throughout the country. In 2004, Household will provide grants to organizations in Columbus, Ohio, Phoenix, Tucson and Seattle. During the first two years of the program, Household awarded more than $2 million in grants to support 23 grassroots organizations in Atlanta, Chicago, Dallas, Los Angeles, Tampa/St. Petersburg and Hampton Roads, Va.

The grant amount allocated to organizations varies based on demonstrated need and the scope of the educational program. Organizations in the above-mentioned communities can request an application for the grant program between now and Jan. 30, 2004 by writing to communityrelations@household.com.

"Taking control of your personal financial situation is the first step to a secure future," Aldinger said. "Through the Build Your Tomorrow consumer education program, Household can offer the resources to help you get there."

About Household International, Inc.
Household International, Inc., based in Prospect Heights, Ill., is a wholly owned subsidiary of HSBC Holdings plc (NYSE: HBC), one of the largest banking and financial services organizations in the world. Household's businesses are leading providers of consumer loans, credit cards, auto finance and credit insurance products in the United States, United Kingdom and Canada. In the United States, Household companies operate under the two oldest and most recognized names in consumer finance - HFC and Beneficial. Additionally, Household's businesses are some 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 www.household.com.

FOR MORE INFORMATION, CONTACT:
Mark Friedlander
Household International
(847) 564-6137
mrfriedlander@household.com

or

Kathleen Morrison
Household International
(847) 564-6111
kamorrison@household.com