News Release

HSBC Bank Announces Plans to Expand into New Jersey

29 June 2005

NEW YORK – “The World’s Local Bank” is coming to New Jersey as HSBC Bank USA, N.A. plans to expand into the state. HSBC brings a full complement of banking services into the state to serve residents and businesses. The bank plans to open at least six branches in 2005 and to continue its expansion in 2006.

HSBC’s first New Jersey branch opened earlier this month in Hillside. Among the additional locations in which HSBC plans to open branches in the next six months are Fort Lee, Englewood, Hoboken, Parsippany, Morristown, Milburn, Westfield and Jersey City. The bank’s New Jersey headquarters will be in Parsippany, which houses district executives as well as commercial and real estate lending staff. HSBC already employs more than 1,300 people in the state in its securities, mortgage, technology services and Internet operations. As part of the planned expansion, HSBC plans to add more than 125 new jobs in New Jersey this year.

"We’re very excited to continue our branch expansion by bringing HSBC’s mix of local knowledge and service and its global reach and capabilities to New Jersey,” said Martin Glynn, president and chief executive officer of HSBC Bank USA, N.A. “With our strong presence in Metro New York, New Jersey is a natural place for HSBC to continue its U.S. expansion, and we look forward to serving the needs of individuals and businesses who live and work in the Garden State.”

HSBC brings a full range of financial services for individuals and businesses to the New Jersey market. In addition to free checking for individuals, HSBC offers an unrivalled free business checking account, free access to its award-winning online banking and bill pay service and extended hours at many branches so customers can bank when and how they want to. HSBC’s New Jersey expansion will also let the thousands of New Jersey residents who commute to New York bring their bank home with them.

HSBC already has one of the largest branch networks in New York State.

The bank is also a leading Small Business Administration lender. “As the No. 1 SBA lender in New York State, we intend to recreate that success in small business in New Jersey,” said Seamus McMahon, president for HSBC’s Atlantic region, which includes New Jersey, Pennsylvania, Florida, Washington D.C. and Delaware. “It is a testament to the strength of our small business offerings that we were already the No. 4 SBA lender in the state before having a single branch here.”

The bank’s entrance in to New Jersey coincides with the first-ever HSBC Women’s World Match Play Tournament being held at Hamilton Farms Golf Club in Gladstone, New Jersey. The LPGA tournament begins Thursday, June 30 and runs through Sunday, July 3. More details are available at www.hsbcgolf.com.