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295

HSBC

Holdings Associates

US$m US$m US$m

Revaluation reserves

Investment property revaluation reserve:

At 1 January 2003 .................................................................................. 247 – 44

Unrealised deficit on revaluation of land and buildings ......................... (38) – (10)

Transfer to revaluation reserve .............................................................. (1) – –

Realisation on disposal of properties ..................................................... (2) – –

Exchange and other movements ............................................................ 1 – –

At 31 December 2003 ........................................................................... 207 – 34

Revaluation reserve:

At 1 January 2003 .................................................................................. 1,707 36,883 6

Realisation on disposal of properties ..................................................... (28) – –

Transfer from investment property revaluation reserve ......................... 1 – –

Unrealised deficit on revaluation of properties ...................................... (292) – –

Transfer of depreciation from profit and loss account reserve ............... (29) – –

Net increase in attributable net assets of subsidiary undertakings

(Note 25 (a))....................................................................................... – 20,195 –

Exchange and other movements ............................................................ 49 (37) 2

At 31 December 2003 ........................................................................... 1,408 57,041 8

Total revaluation reserves .......................................................................... 1,615 57,041 42

Profit and loss account

At 1 January 20031 ..................................................................................... 32,694 6,055 243

Retained profit/(loss) for the year .............................................................. 2,242 (319) 80

Revaluation reserve realised on disposal of properties ............................... 30 – –

Arising on shares issued in lieu of dividends ............................................. 1,423 1,423 –

Transfer of depreciation to revaluation reserve .......................................... 29 – –

Amortisation of shares in restricted share plans ......................................... 19 14 –

Own shares acquired to meet share awards and share option awards ......... (301) (266) –

Own shares released on vesting of share awards and exercise of options .. 162 153 –

Net purchases and sales of own shares for market making purposes ......... (138) – –

Exchange and other movements ................................................................. 5,268 – 1

At 31 December 20031 .............................................................................. 41,428 7,060 324

1Includes the balance relating to own shares held. In the 2003 Annual Report and Accounts, the balance relating to own shares held was

reported separately together with movements in the year.

HSBC

Holdings Associates

US$m US$m US$m

Share premium account

At 1 January 2002 ...................................................................................... 3,373 3,373 –

Shares issued to QUEST ............................................................................ 65 65 –

Shares issued under other employee option schemes ................................. 254 254 –

Shares issued in lieu of dividends .............................................................. (45) (45) –

At 31 December 2002 ................................................................................ 3,647 3,647 –

Other reserves

Reserve in respect of obligations under subsidiary share options:

At 1 January 2002 .................................................................................. 480 480 –

On exercise of CCF share options ......................................................... (41) (41) –

At 31 December 2002 ............................................................................ 439 439 –

Merger reserve:

At 1 January and 31 December 2002 ..................................................... 8,290 – –

Total other reserves ........................................................................................ 8,729 439 –