Holding(s) in Company

Smith & Nephew Plc
03 September 2004

SCHEDULE 10

NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company

SMITH & NEPHEW PLC

2. Name of shareholder having a major interest

FMR Corp and Fidelity International Limited

3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18

Non-beneficial interest

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them

Bank of New York Brussels   136,300
Bank of New York Europe   108,363
Bank of New York London   355,067
Brown Brothers Harriman Ltd LUX 19,700
Chase Manhattan Bank London  181,100
Deutsche Bank    118,636
HSBC Client Holdings Nominee (UK) Limited   512,924
JP Morgan    791,530
Mellon Bank   68,700
Morgan Stanley    343,675
Northern Trust    262,680
Northern Trust London    85,300
Nortrust Nominees Ltd    682,037
RBS Trust Bank   307,518
State Street Bank & Trust    52,200
State Street Bank & Trust Company   302,800
State Street Nominees Limited    281,800
JP Morgan  163,372
Chase Nominees Limited    22,056,805
HSBC    2,823,209
HSBC Client Holdings Nominee (UK) Limited   30,017,924
HSBC Client Holdings Nominee Limited   8,569,003
JP Morgan Chase   39,691
Mellon Bank   1,300
State Street Bank & Trust    14,800
State Street Bank & Trust Company   92,400
State Street Nominees Limited    3,815,960
Brown Brothers Harriman  9,300
Lloyds Bank Nominees Limited   555,800
Mellon Bank   6,560
SAI   65,000
State Street Bank & Trust    7,400
State Street Nominees Ltd   9,500
Bank of New York Europe   153,900
Bankers Trust   103,318
Citibank   201,754
MSS Nominees Ltd   108,427

The following shares are from the assumed conversion of 370,200 ADRs 
(5 ordinary shares per ADR):

HSBC   642,500
JP Morgan Chase   150
State Street Bank & Trust    8,500

5. Number of shares / amount of stock acquired



6. Percentage of issued class



7. Number of shares / amount of stock disposed

8,224,610

8. Percentage of issued class

0.88%

9. Class of security

Ordinary Shares of 12 2/9p

10. Date of transaction

03.09.2004

11. Date company informed

03.09.2004

12. Total holding following this notification

74,076,903

13. Total percentage holding of issued class following this notification

7.92%

14. Any additional information




15. Name of contact and telephone number for queries

Kate Cummins
Company Secretarial Assistant
0207 960 2251

16. Name and signature of authorised company official responsible for making
this notification

P. R. Chambers

Date of notification

03.09.2004

The FSA does not give any express or implied warranty as to the accuracy of this
document or material and does not accept any liability for error or omission.
The FSA is not liable for any damages (including, without limitation, damages
for loss of business or loss of profits) arising in contract, tort or otherwise
from the use of or inability to use this document, or any material contained in
it, or from any action or decision taken as a result of using this document or
any such material.


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