Director Shareholding

Smith (DS) PLC
14 September 2004


                          DS Smith Plc (the 'Company')

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, the
Company hereby notifies the following Directors' share transactions which
occurred on 14 September 2004:

The Directors listed below notified the Company on 14 September 2004 that, as a
result of being granted awards under the DS Smith Long Term Incentive Plan ('the
Plan'), they have each acquired a conditional right to receive the number of
ordinary shares of 10p each of the Company ('Shares') indicated below.

The awards were granted by reference to the middle market quotation of a Share
on 13 September 2004 of 152.75 pence, and operate subject to the conditions set
out in the rules of the Plan.  They will normally vest, subject to the
satisfaction of performance conditions, on the third anniversary of the date of
grant, being 14 September 2007.

     Director:                 Date of Grant:                     No. of Shares:
     A D Thorne )              14 September 2004                  216,039
     G M Morris )              14 September 2004                  121,767
     J-P Loison )              14 September 2004                  116,530


FOR AND ON BEHALF OF DS SMITH PLC

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

Date of this notification: 14 September 2004.


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