Director Shareholding

Smith & Nephew Plc
19 November 2002



19 November 2002


The Secretary

London Stock Exchange

RNS

Old Broad Street

London

EC2N 1HP




Dear Sirs,



Dealing by Directors in Ordinary shares of Smith & Nephew plc



We have been notified today of the following transactions by Directors of Smith
& Nephew plc:



Sir Timothy Lankester acquired 11 Ordinary shares of 122/9 pence each in Smith &
Nephew plc, by re-investment of the 2002 Interim Dividend, paid on 15 November
2002. Each share was purchased at 377.7 pence on 15 November 2002.  Sir Timothy
Lankester now has an interest in 6,086 shares representing 0.0007% of the issued
share capital.



Mr C J O'Donnell acquired 561 Ordinary shares of 122/9 pence each in Smith &
Nephew plc, by re-investment of the 2002 Interim Dividend, paid on 15 November
2002. Each share was purchased at 377.7 pence on 15 November 2002.  Mr C J
O'Donnell now has an interest in 122,126 shares representing 0.0132% of the
issued share capital.



Diane Eustace, wife of Mr D Eustace, a director of Smith & Nephew plc, acquired
38 Ordinary shares of 122/9 pence each in Smith & Nephew plc, by re-investment
of the 2002 Interim Dividend paid on 15 November 2002.  Each share was purchased
at 377.7 pence on 15 November 2002.  Mr D Eustace now has an interest in 49,484
shares representing 0.0053% of the issued share capital.



Yours faithfully,

J.V. Sutton

Assistant Company Secretary


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