News Release

HSBC Expands Support for Volunteer Income Tax Assistance Program Through Partnerships with 22 Organizations

6 April 2006

PROSPECT HEIGHTS, Ill. -- HSBC North America Holdings Inc. (NYSE: HBC) provided funding and employee volunteer support for 22 community organizations in New York, California, Florida, Delaware and Nevada to provide free tax-preparation services to lower- and moderate-income tax filers who qualify for the Earned Income Tax Credit.

In addition to nearly $700,000 in grants to the Volunteer Income Tax Assistance sites, more than 60 HSBC employees have volunteered to help staff those offices.

"The Volunteer Income Tax Assistance program has been critical to helping working families across the country get the tax refunds they are due," said Elizabeth Rabii Cribbs, HSBC - North America director of employee engagement and corporate service. "With millions of dollars in Earned Income Tax Credits going unclaimed, it is vitally important that tax filers who may be eligible get the support they need, and HSBC employees are proud to help."

In 2005, HSBC supported 15 community organizations that helped 86,640 tax filers collect more than $105 million in tax refunds, including $50 million in Federal Earned Income Tax Credits.

Filers due a refund also are eligible for fee-free check-cashing and checking accounts with no monthly maintenance fee at HSBC Bank USA, N.A. branches.
 
Sites receiving HSBC support:

Alameda County, Calif: United Way of the Bay Area

Los Angeles: ACORN; Broad Spectrum; Children's Planning Council of Los Angeles; West Angeles CDC; Mexican American Opportunity Foundation

San Francisco: Northeast Federal Credit Union; United Way of the Bay Area

Wilmington, Calif.: Nehemiah Gateway CDC

Oakland, Calif.: East Bay Asian Local Development Corporation; Peoples Federal Credit Union

Van Nuys, Calif.: Valley Economic Development Center

Las Vegas: Consumer Credit Counseling of Southern Nevada; Volunteer Center of Southern Nevada

Miami: Human Services Coalition; Little Haiti Housing Association; Opa-Locka Community Development Corp

Albany, N.Y.: Capital District Build Your Money Coalition

Buffalo, N.Y.: United Way of Buffalo and Erie County - Self Sufficiency Soalition

Rochester, N.Y.: United Way of Greater Rochester - CASH Coalition

New York: City of New York - EITC Coalition; Community Food Resource Center (FoodChange); Enterprise Foundation; New York City Financial Network Action Consortium

Chicago: Tax Assistance Program

About HSBC - North America 
HSBC - North America comprises all of HSBC's U.S. and Canadian businesses, including the former Household International businesses. The company's businesses serve nearly 60 million customers in five key areas: personal financial services, consumer finance, commercial banking, private banking and corporate investment banking and markets. Financial products and services are offered under the HSBC, HFC and Beneficial brands. For more information, visit www.hsbcusa.com.

Media Contacts

• Rahsaan Johnson
• HSBC - North America
• (847) 564-7946