Holding(s) in Company

Smith (DS) PLC
1 July 2002

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1) Name of company

DS Smith PLC

2) Name of shareholder having a major interest

Deutsche Bank AG

3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a
non-beneficial interest or in the case of an individual holder if it is a
holding of that person's spouse or children under the age of 18

As above

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them

Deutsche Bank AG and its subsidiary companies

5) Number of shares/amount of stock acquired

790,760

6) Percentage of issued class

0.25%

7) Number of shares/amount of stock disposed

N/A

8) Percentage of issued class

N/A

9) Class of security

Ordinary shares of 10p each

10) Date of transaction

28 June 2002

11) Date company informed

1 July 2002

12) Total holding following this notification

48,703,158

13) Total percentage holding of issued class following this notification

15.16%

14) Any additional information

The Company was informed on 28 June 2002 that Deutsche Bank AG and its

subsidiary companies have an interest in 48,703,158 ordinary shares in the

Company, being 15.16% of share capital.

15) Name of contact and telephone number for queries

Angela Hunter 020 7932 5032

16) Name and signature of authorised company official responsible for
making this notification

Carolyn Cattermole, Company Secretary

Date of notification 1 July 2002



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