News Release

WTAS Expands Tax Practice in Philadelphia with the Addition of Frank Giardini

18 April 2006

NEW YORK -- HSBC's Wealth and Tax Advisory Services, Inc. (WTAS), an independent (unaffiliated with an auditing firm) provider of a broad range of tax, valuation, and financial advisory services, today announced that Frank Giardini has joined as a managing director. Based in Philadelphia, Giardini is responsible for providing tax services to the health care, higher education and other tax-exempt clientele of WTAS in Philadelphia, Pittsburgh, Washington, D.C. and Baltimore.

Media Contacts

• Juanita Gutierrez
• Juanita.Gutierrez@us.hsbc.com
• Director, Public Relations
• HSBC Bank USA, N.A.
• 212.525.6282