Tender Offer Completed

Smith & Nephew Plc
22 March 2002

SMITH & NEPHEW COMPLETES ORATEC TENDER OFFER



LONDON, United Kingdom, March 22, 2002 - Smith & Nephew (London Stock Exchange:
SN. NYSE: SNN), the global advanced medical devices company, announces that it
has been successful in its cash tender offer to acquire shares of ORATEC
Interventions, Inc. (NASDAQ: OTEC), a medical device innovator in the use of
thermal energy to treat spine and joint disorders.  ORATEC will now join the
Smith & Nephew Endoscopy Division, based in Andover, Mass.

Smith & Nephew announced on February 14, 2002 that it had entered into a merger
agreement to acquire ORATEC at $12.50 a share in cash.

Smith & Nephew, through a subsidiary, has accepted for purchase shares tendered
pursuant to its tender offer for all outstanding shares of common stock of
ORATEC.  The tender offer expired at 12:00 midnight EST on Thursday, March 21,
2002.  Approximately 22.9m shares of ORATEC common stock - approximately 95% of
the outstanding shares - have been validly tendered and not withdrawn pursuant
to the Offer.

It is expected that the Smith & Nephew subsidiary will be merged into ORATEC
with each share of ORATEC not purchased in the offer being converted into the
right to receive $12.50 in cash, the same price paid in the offer.


Enquiries:


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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 has
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 commercialization of endoscopic
techniques.  Within endoscopy, Smith & Nephew is the recognized world leader in
arthroscopy (endoscopic procedures performed on articulating joints).





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