Holding(s) in Company

Smith (DS) PLC
26 January 2005


                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company

DS Smith Plc

2. Name of shareholder having a major interest

Legal & General Investment Management Limited

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

HSBC Global Custody Nominee (UK) Ltd a/c 914945 140,712
HSBC Global Custody Nominee (UK) Ltd a/c 775245 1,564,858
HSBC Global Custody Nominee (UK) Ltd a/c 357206 12,599,699
HSBC Global Custody Nominee (UK) Ltd a/c 866203 543,480
HSBC Global Custody Nominee (UK) Ltd a/c 916681 20,000
HSBC Global Custody Nominee (UK) Ltd a/c 360509 554,474

5. Number of shares / amount of stock acquired

N/A

6. Percentage of issued class

N/A

7. Number of shares / amount of stock disposed

423,386

8. Percentage of issued class

0.11%

9. Class of security

Ordinary shares of 10p each

10. Date of transaction

26 January 2005

11. Date company informed

26 January 2005

12. Total holding following this notification

15,423,223

13. Total percentage holding of issued class following this notification

3.97%

14. Any additional information

N/A

15. Name of contact and telephone number for queries

Anne Steele, 020 7932 5031

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

Carolyn Cattermole, Company Secretary

Date of notification

26 January 2005

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