Holding(s) in Company

Smith (DS) PLC
28 February 2007



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: ( )


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) : A sale in a subsidiary of Prudential plc has crossed 4%
triggering this notification. (X)


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

Prudential plc group of companies


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

See attached schedule


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

26 February 2007


6. Date on which issuer notified:

28 February 2007


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

4% / 8%


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                              31,731,697                31,731,697



Resulting situation after the triggering transaction (vii)

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

                           Direct        Direct (x)    Indirect Direct  Indirect
                                                       (xi)

                            31,006,697    31,006,697             7.89%


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)



N/A         N/A        N/A             N/A                               N/A



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

31,006,697                                    7.89%


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

Prudential plc (parent company)

M&G Group Limited (wholly owned subsidiary of Prudential plc)

M&G Limited (wholly owned subsidiary of M&G Group Limited)

M&G Investment Management Limited (wholly owned subsidiary of M&G Limited)

The Prudential Assurance Company Limited (wholly owned subsidiary of Prudential
plc)


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: The Prudential Assurance Company Limited (a

wholly owned subsidiary of Prudential plc) has dropped below a 4% notifiable

interest triggering this notification.


14. Contact Name and Tel No: Emma Thompson, 020 7548 2293


B: 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 5000



              Notifiable Position Report for Smith(DS) Ord GBP0.10

As at 28 February 2007


Percentage holdings are calculated using an issued share capital of 393,039,198

               Registered Holder              Holding   %

Prudential plc                             31,006,697   7.89 total notifiable
                                                        interest
               JP MORGAN NOMINEES             692,400
               M&G INCOME INV CO LTD          600,000
               NORTRUST NOMINEE LTD A/C     2,750,000
               MHA01                        
               NORTRUST NOMINEE LTD A/C       750,000
               MHE01
               NORTRUST NOMINEE LTD A/C        79,839
               MHF01
               NORTRUST NOMS LTD              642,689
               NORTRUST NOMS LTD A/C        7,500,000
               CRI01
               NORTRUST NOMS LTD A/C          325,000
               MVA01
               NORTRUST NOMS LTD A/C          450,000
               PUC01
               PRUCLT HSBC GIS NOM (UK)    15,175,000
               PAC AC
               PRUCLT HSBC GIS NOM (UK)     1,100,000
               PHL AC
               PRUCLT HSBC GIS NOM (UK)       126,769
               PPL AC
               PRUCLT HSBC GIS NOM (UK)       290,000
               HYBF AC
               RECOVERY INV COMPANY           525,000
               LIMITED



              Notifiable Position Report for Smith(DS) Ord GBP0.10

As at 28 February 2007


Percentage holdings are calculated using an issued share capital of 393,039,198

                   Registered Holder                           Holding       %

M&G Group Limited                                         30,314,297      7.71
                   M&G INCOME INV CO LTD                     600,000
                   NORTRUST NOMINEE LTD A/C MHA01          2,750,000
                   NORTRUST NOMINEE LTD A/C MHE01            750,000
                   NORTRUST NOMINEE LTD A/C MHF01             79,839
                   NORTRUST NOMS LTD                         642,689
                   NORTRUST NOMS LTD A/C CRI01             7,500,000
                   NORTRUST NOMS LTD A/C MVA01               325,000
                   NORTRUST NOMS LTD A/C PUC01               450,000
                   PRUCLT HSBC GIS NOM (UK) PAC AC        15,175,000
                   PRUCLT HSBC GIS NOM (UK) PHL AC         1,100,000
                   PRUCLT HSBC GIS NOM (UK) PPL AC           126,769
                   PRUCLT HSBC GIS NOM (UK) HYBF AC          290,000
                   RECOVERY INV COMPANY LIMITED              525,000



              Notifiable Position Report for Smith(DS) Ord GBP0.10

As at 28 February 2007


Percentage holdings are calculated using an issued share capital of 393,039,198

                          Registered Holder                      Holding     %

M&G Investment Management
                                                            30,234,458    7.69
Limited
                          M&G INCOME INV CO LTD                600,000
                          NORTRUST NOMINEE LTD A/C MHA01     2,750,000
                          NORTRUST NOMINEE LTD A/C MHE01       750,000
                          NORTRUST NOMS LTD                    642,689
                          NORTRUST NOMS LTD A/C CRI01        7,500,000
                          NORTRUST NOMS LTD A/C MVA01          325,000
                          NORTRUST NOMS LTD A/C PUC01          450,000
                          PRUCLT HSBC GIS NOM (UK) PAC AC   15,175,000
                          PRUCLT HSBC GIS NOM (UK) PHL AC    1,100,000
                          PRUCLT HSBC GIS NOM (UK) PPL AC      126,769
                          PRUCLT HSBC GIS NOM (UK) HYBF AC     290,000
                          RECOVERY INV COMPANY LIMITED         525,000



              Notifiable Position Report for Smith(DS) Ord GBP0.10

As at 28 February 2007


Percentage holdings are calculated using an issued share capital of 393,039,198

             Registered Holder                                Holding        %

M&G Limited                                              30,314,297       7.71
             M&G INCOME INV CO LTD                          600,000
             NORTRUST NOMINEE LTD A/C MHA01               2,750,000
             NORTRUST NOMINEE LTD A/C MHE01                 750,000
             NORTRUST NOMINEE LTD A/C MHF01                  79,839
             NORTRUST NOMS LTD                              642,689
             NORTRUST NOMS LTD A/C CRI01                  7,500,000
             NORTRUST NOMS LTD A/C MVA01                    325,000
             NORTRUST NOMS LTD A/C PUC01                    450,000
             PRUCLT HSBC GIS NOM (UK) PAC AC             15,175,000
             PRUCLT HSBC GIS NOM (UK) PHL AC              1,100,000
             PRUCLT HSBC GIS NOM (UK) PPL AC                126,769
             PRUCLT HSBC GIS NOM (UK) HYBF AC               290,000
             RECOVERY INV COMPANY LIMITED                   525,000



The Prudential Assurance
                                                        15,301,769        3.89
Company Limited
  PRUCLT HSBC GIS NOM (UK) PAC AC                       15,175,000
  PRUCLT HSBC GIS NOM (UK) PPL AC                          126,769






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