Holding(s) in Company

Smith & Nephew Plc
27 February 2002



27 February 2002


The Secretary

London Stock Exchange

Company Announcement Office

Old Broad Street

London

EC2N 1HP



Dear Sirs,


Smith & Nephew plc has been notified today, pursuant to Section 198 of the
Companies Act 1985 (as amended), by AXA Investment Managers UK Limited Limited
that they have a beneficial interest in 45,955,558 ordinary shares of 12 2/9p
each (4.96%) and a non-beneficial in 37,201,545 ordinary shares of 12 2/9p each
(4.02%) in the Company. The total of 83,157,103 represents 8.98% of the issued
share capital of the Company.

Yours faithfully,





P.R. Chambers

Assistant Company Secretary


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