Director Shareholding

Smith (DS) PLC
01 August 2003

In pursuance of the Company's obligations under Section 329 of the Companies Act
1985 and Chapter 16, paragraphs 16.13(a) and 16.13(c) of the Listing Rules, I
hereby notify you of the following Directors share transactions which occurred
on 1 August 2003:
1)         The Directors listed below have notified the Company that they have become interested in the number of
           ordinary shares of 10p each of the Company indicated below as a result of a purchase by the David S. Smith
           Employee Benefit Trust Limited as Trustees of The David S. Smith Employee Benefit Trust ('the Trust') with
           the exception of items referred to in sub-paragraph 2, below, these interests arise merely because the
           Directors are (together with other Group employees) potential beneficiaries of the Trust.
Director:                     Date of Transaction:          No. of Shares:                Price per Share:
A D Thorne )                  1 August 2003                 601,512                       160.5p
G M Morris )


The Trust now holds a total of 1,672,577 shares of the Company.
2)         The Directors listed below have today notified the Company that the following awards have been granted as
           part of the Company's Long Term Incentive Plan ('the Plan') as a result of which each of them have been
           granted options to acquire from the Trust the number of ordinary shares of 10p each of the Company indicated
           below (which are also included in paragraph 1 above) for a total consideration of £1 payable by each Director
           to the Company subject to the conditions set out in the rules of the Plan.


The grants under the Plan referred to above are normally exerciseable on the
third anniversary of the date of grant being 1 August 2006.
Director:                   Date of Grant:                                No. of Shares:
A D Thorne )                1 August 2003                                 67,289
G M Morris )                                                              26,456


FOR AND ON BEHALF OF DS SMITH PLC

Company Official Responsible for making this notification: Carolyn Cattermole,
Company Secretary.

Date of this notification: 1 August 2003.


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