Holding(s) in Company

Smith (DS) PLC
20 March 2008



TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES


1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached (ii):

DS Smith Plc


2. Reason for the notification (please state Yes/No):


An acquisition or disposal of voting rights: ( X )


An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached: ( )


An event changing the breakdown of voting rights: ( )


Other (please specify) : ( )


3. Full name of person(s) subject to the notification obligation (iii):

The Goldman Sachs Group, Inc.


4. Full name of shareholder(s) (if different from 3.) (iv):

Goldman, Sachs & Co., Goldman Sachs International, Goldman Sachs Asset
Management International, Goldman Sachs Asset Management, L.P.


5. Date of the transaction (and date on which the threshold is crossed or
reached if different) (v):

18 March 2008


6. Date on which issuer notified:

20 March 2008


7. Threshold(s) that is/are crossed or reached:

5%



8. Notified details:


A: Voting rights attached to shares

Class/type of shares if possible using    Situation previous to the Triggering
the ISIN CODE                                       transaction (vi)
                                        Number of      Number of voting Rights
                                        shares         (viii)

GB0008220112                                           Below 3%



Resulting situation after the triggering transaction (vii)

Class/type of shares if      Number of Number of voting rights % of voting
possible using the ISIN CODE shares    (ix)                    rights

                             Direct    Direct    Indirect (xi) Direct   Indirect
                                       (x)

                                        22,252    19,899,763    0.006%   5.059%


B: Financial Instruments

Resulting situation after the triggering transaction (xii)

Type of     Expiration Exercise/       Number of voting rights that may  % of
financial   Date       Conversion      be acquired if the instrument is  voting
instrument  (xiii)     Period/ Date    exercised/ converted.             rights
                       (xiv)





Total (A+B)
Number of voting rights                      % of voting rights

19,922,015                                    5.06%


9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable (xv):

The interest in 144,801 shares arose from an interest held by Goldman, Sachs &
Co., a wholly-owned direct subsidiary of GS Inc, acting as custodian for its
customers. These shares are, or will be, registered in the name of Goldman Sachs
Securities (Nominees), Limited.

The interest in 22,252 shares arose from a beneficial interest held by Goldman
Sachs International, a wholly-owned indirect subsidiary of GS Inc. These shares
are, or will be, registered at CREST in account CREPTEMP.

The interest in 610,086 shares arose from the interest held by Goldman Sachs
Asset Management International, a wholly owned subsidiary of GS Inc acting as
discretionary manager. We believe that some of these shares are, or will be,
registered in the name of Goldman Sachs Securities (Nominees), Limited ('GSSN').

The interest in 19,144,876 shares arose from the interest held by Goldman Sachs
Asset Management, LP a wholly owned subsidiary of GS Inc acting as discretionary
manager. We believe that some of these shares are, or will be, registered in the
name of Goldman Sachs Securities (Nominees), Limited ('GSSN').


Proxy Voting:


10. Name of the proxy holder: N/A


11. Number of voting rights proxy holder will cease to hold: N/A


12. Date on which proxy holder will cease to hold voting rights: N/A


13. Additional information:

General email contact: [e-mail]



14. Contact name:
Sean Rogers/Alan Cox


15. Contact telephone number:
020 7552 9205 / 020 7774 8774



Identity of the notifier, if applicable (xvii)


Full name:

Carolyn Cattermole


Contact address:

DS Smith Plc, 4-16 Artillery Row, London SW1P 1RZ


Phone number:

020 7932 5030




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