Holding(s) in Company

Smith & Nephew Plc
15 December 2004



15 December 2004


The Secretary
London Stock Exchange
RNS
Old Broad Street
London
EC2N 1HP


Dear Sirs,

Smith & Nephew plc has been informed today that Mourant & Co. Trustees Limited,
as trustee of The Smith & Nephew Employees' Share Trust has purchased a total of
304,772 ordinary shares in the Company today at a price of 549 pence per share,
representing 0.03% of the issued ordinary share capital.

The Trust, which now holds a total of 1,894,385 shares representing 0.20% of the
issued ordinary share capital of the Company, is a discretionary trust of which
all employees of the Company and its subsidiaries are potential beneficiaries.
Each of the executive directors of the Company is, therefore, interested in the
shares held in the Trust from time to time in the same way as other employees of
the Group.

Yours faithfully,



P.R. Chambers
Company Secretary



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