Holding(s) in Company

Smith & Nephew Plc
04 September 2003



4 September 2003

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 AXA Investment Managers UK Ltd, that they no
longer have a notifiable interest in the issued share capital of the Company.


Yours faithfully,

P.R. Chambers
Company Secretary


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