Merger Update

Smith & Nephew Plc
13 March 2002


13 March 2002


            ANTITRUST WAITING PERIOD ENDS FOR ORATEC TENDER OFFER


Smith & Nephew plc, the global advanced medical devices group, today announced
that the Hart-Scott-Rodino waiting period applicable to Smith & Nephew's tender
offer for all outstanding shares of common stock of ORATEC Interventions, Inc.
(NASDAQ: OTEC) has expired.  The tender offer is being made pursuant to an
agreement and plan of merger dated 13 February 2002.  The tender offer will
expire at 12:00 Midnight, New York City time, on Thursday,  21 March 2002,
unless the offer is extended.

U.S. Bancorp Piper Jaffray is the dealer manager for the tender offer, American
Stock Transfer & Trust Company is the depositary and Morrow & Co., Inc. is the
information agent.



Enquiries:

Morrow & Co., Inc. Information Agents

Banks & Brokers:                     In US              -     [phone]
                                     Outside US         -     [phone]

Stockholders:                        In US              -     [phone]
                                     Outside US         -     [phone]

e-mail:                              [e-mail]




About Smith & Nephew

Smith & Nephew plc, (London Stock Exchange: SN), (NYSE: SNN), is a global
advanced medical devices company with a highly successful track record in
developing, manufacturing and marketing a wide variety of innovative and
technologically advanced tissue repair products.  These products are primarily
in the areas of bone, joints, skin and other soft tissue.  Smith & Nephew have
extensive marketing and distribution capabilities, with established sales in
more than 90 countries.  For further information, visit Smith & Nephew's Web
site at www.smith-nephew.com.

Smith & Nephew Endoscopy (www.endoscopy1.com) is one of its major businesses,
and is a world leader in the development and commercialisation of endoscopic
techniques.  Within endoscopy, Smith & Nephew is the recognised world leader in
arthroscopy (endoscopic procedures performed on articulating joints).


                      This information is provided by RNS
            The company news service from the London Stock Exchange