News Release

HSBC Bank USA, N.A. And Affiliates Raise Prime and Reference Rate

10 May 2006

New York -- HSBC Bank USA, N.A. and its affiliates announced that they will raise their prime and reference rate to 8.00% from 7.75% effective today, Wednesday, May 10, 2006.

 

About HSBC Bank USA, National Association:

HSBC Bank USA, N.A. has nearly 400 branches in New York State, a network of branches in Florida, California, New Jersey and Pennsylvania. The bank has one branch each in Delaware, Washington State, Oregon and Washington, D.C. It is the principal subsidiary of HSBC USA Inc, an indirectly held, wholly owned subsidiary of HSBC North America Holdings Inc., one of the nation's 10 largest bank holding companies by assets.

Media Contacts

• Stephen E. Cohen
• stephen.e.cohen@us.hsbc.com
• HSBC North America Holdings, Inc.
• 212-525-6901