Hirco - Rule 17 Updated Disclosure - HSBC Holdings

News Release

Hirco PLC

("Hirco" or the "Company")

Hirco plc - Rule 17 Updated Disclosure - HSBC Holdings plc

Holding in a Company

May 16, 2011 - LONDON - Hirco PLC (AIM: HRCO), an investment vehicle for Hiranandani, India's largest developer of prestigious mixed-use townships, today announced that in accordance with rule 17 of the AIM Rules, the Company has been notified of the following notice of change in a notifiable interest in the Company's ordinary shares of 1p each ("Shares").

Schedule Five

(a) the identity of the significant shareholder concerned;

HSBC Holdings plc through its subsidiaries: Halbis Capital Management (Hong Kong) Limited; HSBC Investment Management; HSBC Global Asset Management (Singapore) Limited and HSBC Bank plc.

(b) the date on which the disclosure was made to it;

10 May 2011 (additional information provided on 13 May 2011)

(c) the date on which the deal or the relevant change to the holding was effected;

4 May 2011

(d) the price, amount and class of the AIM securities concerned;

Not known

(e) the nature of the transaction;

Not known

(f) the nature and extent of the significant shareholder's interest in the transaction;

The significant shareholder now holds 2,134,744 Shares which represents approximately 2.79% of the Company's issued share capital. The significant shareholder holds its interest in the Company through its subsidiaries in the following proportions:

Halbis Capital Management (Hong Kong) Limited - 1,648,000 shares - 2.15%;

HSBC Bank plc. - 478,244 shares - 0.62%; and

HSBC Investment Management 8,500 shares - 0.01%.

(g) where a deal takes place when it is in any close period under rule 21, the date upon which any previous binding commitment was notified or the date upon which the Exchange granted permission to deal in order to mitigate severe personal hardship; and

N/A

(h) where the notification concerns a related financial product, the detailed nature of the exposure;

N/A

ENDS

Contacts:

Hirco Gutenberg Communications

Investor Relations US - Hugh Burnham / Michael Gallo

+44(0) 1624 647 069 +1 212 239 8595 / +1 212 239 8594

[email protected] [email protected][email protected]