14 - 20 March 2001

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Malta Shareholders Association calls for Borg-Bartolo votes for HSBC board
calls on other candidates to withdraw

The Malta Shareholders Association has informed all shareholders, members and non-members alike, in publicly listed companies on the Malta Stock Exchange that the Association’s Council of Administration has unanimously decided to once again support the candidature of John Borg-Bartolo, FOIB, at the forthcoming Annual General Meeting of HSBC Bank Malta plc.

The Association recently stated that it is in the interest of private shareholders to re-elect Mr Borg-Bartolo to HSBC’s Board of Directors, to enable him to carry on with the valuable work that he has undertaken so far as a member of the Board.

It is therefore of utmost importance, according to the Association, that all private shareholders in HSBC Bank will likewise support the candidature of Mr Borg-Bartolo either by forwarding their Proxy Form as soon as this is in hand, to the Association's address at PO BOX 76 B'Kara, or otherwise by attending the Annual General Meeting and voting in his favour.

The Association has also contacted the two new candidates suggesting that they consider withdrawing their nominations, in the interest of the private shareholders, since their participation can only serve to undermine the prospects for election of the member who carries the confidence of the Association.

The Association believes that it is not in the interest of the minority shareholders to have the directors they elect handpicked by the HSBC through collection of proxies.

The Association can be contacted by phone on 435152, by fax on 419995 or by e-mail: chairman@MaltaShareholders.com. Meanwhile, the Association has informed shareholders seeking to become members of the Association to visit the Association’s website: www.MaltaShareholders.com from where they can download the necessary application form.

The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07
Tel: (356) 382741-3, 382745-6 | Fax: (356) 385075 | e-mail: editorial@networkpublications.com.mt