Holding(s) in Company

Smith & Nephew Plc
27 January 2005


                              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

Master Trust Bank of Japan   41,200
Brown Brothers Harriman Ltd LUX  287,461
JP Morgan Bournemouth   420,002
Brown Brothers Harriman & Co  11,991,967
JP Morgan Chase Bank  19,020,405
State Street Bank & Trust Company   531,523
Mellon Bank N.A.  3,260
State Street Bank & Trust Company   605,900
Bank of New York Brussels   556,881
Bankers Trust London  195,427
Citibank London  181,254
Clydesdale Bank plc   43,900
JP Morgan Bournemouth   419,600
Mellon Bank   382,375
Midland Securities Services   98,127
Northern Trust London   842,626
State Street Bank & Trust Company London   248,700


The following shares are from the assumed conversion of 128,510 ADRs (5 ordinary 
shares per ADR):

Brown Brothers Harriman & Co    642,500
JP Morgan Chase   50


5. Number of shares / amount of stock acquired



6. Percentage of issued class



7. Number of shares / amount of stock disposed

6,690,516


8. Percentage of issued class

0.71%


9. Class of security

Ordinary Shares of 12 2/9p


10. Date of transaction

26.01.2005


11. Date company informed

26.01.2005


12. Total holding following this notification

36,513,158


13. Total percentage holding of issued class following this notification

3.90%


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

Kate Cummins - Company Secretarial Assistant


Date of notification

27.01.2005


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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