HSBC Education Trust and CIBM Launch Global Financial Literacy Program

HSBC Education Trust and CIBM Launch Global Financial Literacy Programme with SIFE

    Philanthropy Writers/Business Editors/Education Editors

    LONDON & NEW YORK--(BUSINESS WIRE)--March 15, 2005--The HSBC Education Trust and the Corporate, Investment Banking and Markets division of HSBC ("CIBM") have today launched a programme with Students In Free Enterprise ("SIFE") to encourage financial literacy with an emphasis on young people and women entrepreneurs. CIBM and the HSBC Education Trust intend to provide grants totalling US$3 million to fund this initiative for three years.
    Through this partnership, CIBM and the HSBC Education Trust will incentivise SIFE's university students to develop community projects that provide financial literacy education to young people, aged 16-25, and encourage women to develop financial independence through entrepreneurship. HSBC and SIFE are committed to providing resources and support to participating university students and their communities as part of this initiative.
    Individual grants will be distributed to several hundred SIFE entities in 28 countries to fund student-led financial literacy projects. From the most successful projects, 100 participating students will be selected to represent their universities and countries and share their knowledge at the HSBC Financial Literacy Forum in Toronto, Canada in October 2005.
    As a practical result of this programme, students and individuals within their local communities will gain a firm grasp of credit and money management principles. With this knowledge, they will be able to make informed, confident decisions and have the tools they need to achieve prosperity.
    John Studzinski, Chief Executive of CIBM said, "Financial literacy is a fundamental skill that empowers people and enables them to achieve the human dignity they deserve. It is crucial also to the development and prosperity of every country. By investing in financial literacy education we seek to build the confidence and abilities of young people on whom, as customers and employees, the future of business will depend. CIBM is delighted to be involved in this initiative on behalf of HSBC."
    Dame Mary Richardson, Chief Executive of the HSBC Education Trust, said "The Financial Literacy Programme with SIFE will be an important part of our effort to promote education in general and financial literacy in particular. In the HSBC Education Trust's first global initiative, we have chosen to collaborate with SIFE because they can deliver quickly, practical results around the world."
    "The generosity of the HSBC Education Trust will create countless opportunities for young people and women entrepreneurs around the world," stated Alvin Rohrs, President and CEO of SIFE. "We are thrilled to have such a generous and committed partner for this programme and are pleased to be inviting John Studzinski to join the SIFE World Headquarters Board of Directors. It is also our honour to have Dame Mary Richardson join our SIFE UK Board of Directors. We look forward to building lasting and productive relationships with CIBM and the HSBC Education Trust."
    "The potential impact of this programme is immeasurable," said Bruce Nasby, Executive Vice President of Programs for SIFE. "With the support of the HSBC Education Trust and CIBM, our SIFE students will be able to create economic opportunities that otherwise might not be available in their communities. More young people will learn the skills they need to be successful in our increasingly competitive society and more women will experience the freedom of financial independence through entrepreneurship".

    Notes for Editors:

    1. The HSBC Education Trust, led by Dame Mary Richardson, was established in January 2001 to provide a focus for HSBC's educational projects, seeking to open doors of opportunity for children by raising standards of education and focusing on:

--	Primary and secondary education programmes for underprivileged children or for schools in economically deprived areas
--	Language programmes (particularly Mandarin)
--	Programmes to promote international understanding among young people
--	Programmes that encourage greater understanding of business and finance
--	Attitudinal education

    Further details can be found at www.hsbc.com/education.

    2. HSBC supports a wide range of educational projects and initiatives throughout the communities where it does business, opening doors of opportunity for children by helping to raise academic achievement and improve vocational skills. This programme endorses HSBC's commitment to raise standards in education around the world. In the US, HSBC North America also supports a broad range of financial education programs for students at the secondary and post-secondary levels. It offers direct grants to universities along with internship opportunities and funds student-focused personal finance initiatives facilitated by public and private-sector entities.
    3. Students In Free Enterprise ("SIFE") is a non-profit organisation that mobilises university students to create economic opportunities for others. Active on more than 1,800 university campuses in over 40 countries, SIFE is the world's largest collegiate organisation devoted to economic and enterprise education. SIFE students develop projects in their communities that teach entrepreneurship, market economics, business ethics and personal financial success skills. Further details can be found at www.sife.org.
    4. HSBC serves over 110 million customers worldwide. It has over 9,800 offices in 77 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$1,277 billion at 31 December 2004, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as "the world's local bank". Further details can be found at www.hsbc.com.
    5. HSBC's Corporate, Investment Banking and Markets division ("CIBM") provides tailored financial products and services to major government, corporate and institutional clients. Within client-focused business lines, Corporate and Institutional Banking, Global Investment Banking, Global Markets and Global Transaction Banking, CIBM offers a full range of capabilities, including foreign exchange, fixed income, derivatives, risk advisory, investment banking financing, investment banking advisory, payments and cash management, trade services and securities services. Further details can be found at www.hsbcnet.com.
    6. Simon Birkett will manage the involvement of CIBM in the Financial Literacy Programme. Morgan Clevenger, of SIFE, will be the Project Director.

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CONTACT: HSBC Pierre Goad, Global Head of Corporate Communications for CIBM Mobile: +44 7717 483 051 or Richard Lindsay, Media Relations Manager, Group Corporate Affairs Tel: +44 20 7992 1555 or John Ryan, Head of Corporate Communications, Asia-Pacific for CIBM Tel: +852 2841 8234 or Juanita Gutierrez, Director of Public Relations, HSBC Bank USA Tel: +1 212 525 6282 or Steve Martin, Regional Manager, Group Corporate Affairs, Middle East Tel: +971 4 3906630 or SIFE Michelle West, Director, Public & Media Relations Mobile: +1 417 353 1550 (15-16 March) Mobile: +1 417 860 6483 (from 17 March) Office: +1 417 831 9505 (from 17 March)

KEYWORD: NEW YORK UNITED KINGDOM INTERNATIONAL EUROPE INDUSTRY KEYWORD: EDUCATION BANKING SOURCE: The HSBC Education Trust

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