Director Shareholding

Smith & Nephew Plc
28 February 2001



Smith & Nephew plc has been notified on 28 February 2001 that
the following directors of the Company have been granted nil
cost options over ordinary shares of 12 2/9p each by the
Trustees of the Smith & Nephew Employees' Share Trust as a
result of the vesting of an award pursuant to the Smith &
Nephew Long-Term Incentive Plan on 26 February 2001:

       C.J. O'Donnell         161,263
       P. Hooley              102,874

The period of exercise for these options will commence
immediately and end on 26 February 2008.

C.J. O'Donnell now has options over 339,125 ordinary shares
and P. Hooley options over 428,236 ordinary shares.

As a result of the transfer of 232,996 shares to other
beneficiaries pursuant to the Smith & Nephew Long-Term
Incentive Plan on 26 February 2001 all executive directors
cease to be potential discretionary beneficiaries of the
232,996 shares previously held by the Trustees of Smith &
Nephew Employees' Share Trust.