Holding(s) in Company

Smith & Nephew Plc
08 June 2004

8 June 2004


The Secretary
London Stock Exchange
10 Paternoster Square
London
EC4M 7LS

Dear Sirs,

Smith & Nephew plc has been notified today, pursuant to Section 198 of the
Companies Act 1985 (as amended), by The Capital Group Companies, Inc, that they
have a decreased notifiable interest, as at 4 June 2004, in 36,106,617 ordinary
shares of 12 2/9p each in the Company representing 3.861% of the issued share
capital of the Company.

Yours faithfully,




P.R. Chambers
Company Secretary



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