News Release

HSBC Opens Downtown Los Angeles Branch in Continuation of California Expansion

24 March 2005

NEW YORK –  HSBC Bank USA, N.A. has opened its downtown Los Angeles office and West Coast headquarters at 660 S. Figueroa Street in Los Angeles as part of its continuing expansion in California. The bank recently opened its Pasadena office and has plans to continue to grow in the state.

The branch staff is multilingual, speaking either Mandarin, Korean, Japanese or Spanish in addition to English to serve the surrounding community's needs. Branch amenities include two 24-hour ATMs, safe-deposit boxes and parking in the adjacent building. A financial advisor, mortgage specialist and insurance specialist are available to work with customers to meet their investment, lending and insurance needs.

A small business relationship manager is also available to support the local business community with a range of banking products, including HSBC's unmatched free business checking account. The branch is open from 9 a.m. to 5 p.m. Monday to Thursday and 9 a.m. to 6 p.m. Friday. The office will also be home to HSBC's new Southern California commercial, middle-market lending team and its new commercial real estate team.

"Downtown Los Angeles is a critically important place for HSBC to be in California, and we are extremely excited to make it the bank's West Coast headquarters,'' said Brendan McDonagh, chief operating officer of HSBC Bank USA, N.A. "We have a comprehensive mix of services and products for individuals and businesses alike. We take great pride in being the world's local bank and our customers greatly appreciate our promise to tailor our services to meet their unique needs."

HSBC has eight branches in California, with six in Southern California and two in the San Francisco Bay Area.

Stephanie Kim is the branch manager for this office.