BSN Acquisition

Smith & Nephew Plc
11 December 2003

BSN ACQUISITION OF CASTING & SPLINTING
BUSINESS OF DEPUY INC

11 December 2003

Smith & Nephew plc notes that BSN Medical, its 50/50 joint venture with
Beiersdorf AG, has today announced its intention to acquire the casting and
splinting business of DePuy, Inc., a Johnson & Johnson company, which has global
sales of $42m.

This acquisition, which will be financed out of the existing non-recourse bank
facilities of BSN Medical, is a further step in establishing BSN as a major
independent medical devices company.

The transaction is subject to merger clearance in a number of national
authorities in Europe.  BSN hopes to complete the transaction by the end of the
first quarter of 2004.

About us

Smith & Nephew (LSE:SN, NYSE:SNN) is one of the world's leading medical devices
companies, specialising in Orthopaedics, Endoscopy and Advanced Wound
Management.  Smith & Nephew ranks as the global leader in arthroscopy and
advanced wound management and is the fastest growing full-line orthopaedics
company in the world.

Smith & Nephew is dedicated to helping improve people's lives.  The company
prides itself in the strength of its relationships with its surgeon and
healthcare professional customers, with whom its name is synonymous with the
highest standards of performance, innovation and trust.  The company has over
7,500 employees and operates in 32 countries around the world, generating sales
of £1.1 billion.

Enquiries:

Smith & Nephew
Peter Nind                              Tel: [phone]
Corporate Affairs Manager

Financial Dynamics
David Yates                             Tel: [phone]



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