Holding(s) in Company

Smith & Nephew Plc
20 June 2002



20 June 2002



The Secretary
London Stock Exchange
RNS
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 Merrill Lynch Investment Managers that they
have a notifiable interest in 93,145,312 ordinary shares of 12 2/9p each in the
Company, representing 10.04% of the issued capital of the Company, as at 14th
June 2002.



Yours faithfully,



J.V. Sutton

Assistant Company Secretary





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