Director Shareholding

Smith & Nephew Plc
21 November 2002

21 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 10 Ordinary shares of 122/9 pence each in Smith &
Nephew plc, by re-investment of the 2002 Interim Dividend, paid on 15 November
2002, through a non-discretionary single company PEP.  Each share was purchased
at 370.75 pence on 20 November 2002.  Sir Timothy Lankester now has an interest
in 6,096 shares representing 0.0007% of the issued share capital.

Mr C J O'Donnell acquired 10 Ordinary shares of 122/9 pence each in Smith &
Nephew plc, by re-investment of the 2002 Interim Dividend, paid on 15 November
2002, through an ISA.  Each share was purchased at 378.0 pence on 15 November
2002.  Mr C J O'Donnell now has an interest in 122,136 shares representing
0.0132% of the issued share capital.

Mr P Hooley acquired 10 Ordinary shares of 122/9 pence each in Smith & Nephew
plc, by re-investment of the 2002 Interim Dividend, paid on 15 November 2002,
through an ISA.  Each share was purchased at 378.0 pence on 15 November 2002.
Mr P Hooley now has an interest in 111,571 shares representing 0.012% of the
issued share capital.


Yours faithfully,


J.V. Sutton
Assistant Company Secretary


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