Director Shareholding

Smith & Nephew Plc
23 September 2003



23 September 2003


The Secretary
London Stock Exchange
RNS
Old Broad Street
London
EC2N 1HP


Dear Sirs,



We have been notified that Mr Warren Knowlton, a director of the Company,
acquired on 23 September 2003, 300 American Depositary Shares ('ADSs')
representing 3,000 ordinary shares of the Company, at a price of $66.08 per ADS.
Mr Knowlton now has an interest in 15,501 ordinary shares representing 0.0017%
of the issued share capital of the Company.



Yours faithfully,







P.R Chambers

Company Secretary


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