Directors' Dealings

SMITH(DAVID S)(HOLDINGS) PLC
6 October 1999




DAVID S SMITH (HOLDINGS) PLC ('the Company')

We hereby notify you that, on 5 October 1999, the following Directors of David
S Smith (Holdings) PLC were granted options over ordinary shares of the
Company under the 1999 Executive Share Option Scheme at an exercise price of
163.1p per share, exercisable over the period 5 October 2002 to 4 October
2009.

The options currently granted would be satisfied by market purchase shares.

Director              Options Granted           Total Shares Under Option
                                               (following this grant)

J P Williams              51,760                         600,210
D F Buttfield            113,380                         396,630
J S Russell               21,151                         301,069
E C Smith                110,313                         202,863