Holding in Company

Smith(David S)(Holdings) PLC
1 December 2000



TO: COMPANY ANNOUNCEMENTS OFFICE

SHAREHOLDING IN THE COMPANY

'David S. Smith (Holdings) PLC (the 'Company') received notification today  that
Phillips & Drew are interested in a total of 32,324,784 ordinary shares of 10p
each representing 10.07% (previously 10.03%) of the Company's total issued share
capital.

FROM: DAVID S. SMITH (HOLDINGS) PLC