June Rebalancing Of The S&P/HKEx LargeCap Index

Standard & Poor’s will make the following changes to the S&P/HKEx LargeCap Index as part of the June quarterly rebalancing. The changes consist of index shares and IWFs updates and will become effective after the close of business Friday June 27, 2008.

Share and IWF Changes

* The IWF of HSBC Holdings plc. has been adjusted to re-weight the stock to 15% of the index as per the S&P/HKEx Large Cap Index methodology

Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.

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