Holding(s) in Company

Smith (DS) PLC
21 June 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) : Indirect ownership exceeds threshold ( x )


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

Sparinvest Holding A/S


4. Full name of shareholder(s) (if different from 3.) (iv): Threshold is
exceeded through capacity of operator of multiple mutual funds/UCITS


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


6. Date on which issuer notified:

21 June 2007


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

5%



8. Notified details:


A: Voting rights attached to shares

19,992,238
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                              19,992,238                19,992,238



Resulting situation after the triggering transaction (vii)

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

                                 Direct     Direct Indirect (xi) Direct Indirect
                                            (x)

                                                    19,992,238            5.08%


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

19,992,238                                5.08%


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

Sparinvest indirect holding of DS Smith Plc (GB0008220112)

                                             Holding     Share     Voting Rights

Fund name                               19,992,238      5.08%       19,992,238
Sparinvest SICAV Global Value EUR R      5,487,677      1.40%        5,487,677
Sparinvest SICAV European Value EUR R      212,125      0.05%          212,125
Afd 16, Cumulus Value                      465,851      0.12%          465,851
Afd 17, Value aktier                    12,960,144      3.30%       12,960,144
Investin PRO Valueaktier                   154,499      0.04%          154,499
LPK, Globale Aktier IV                     667,800      0.17%          667,800
Afd. 6, Europa Small Cap Index              44,142      0.01%           44,142



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:


14. Contact name:
David C Sorensen

Legal Adviser

Sparinvest Holding



15. Contact telephone number:
[phone]


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



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