Director Shareholding

Smith & Nephew Plc
24 June 2002







24 June 2002









The Secretary

London Stock Exchange

RNS

Old Broad Street

London

EC2N 1HP









Dear Sirs,



Dealing by Director in Ordinary shares of Smith & Nephew plc



We have been informed today that Dudley Eustace, a director of Smith & Nephew
plc, has acquired 480 Ordinary shares of the Company at 400 pence each on 20 May
2002, through the re-investment of the final dividend paid on 17 May 2002.  Mr.
Eustace now has a beneficial interest in 49,446 Ordinary shares being 0.0054% of
the issued share capital of the Company.



Yours faithfully,











P.R. Chambers

Company Secretary





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