Transaction in Own Shares

Smith & Nephew Plc
29 June 2007

SMITH & NEPHEW PLC

TRANSACTIONS IN OWN SHARES

29 JUNE 2007

Smith & Nephew plc (the 'Company') announces that it has commenced a
non-discretionary programme to buy back ordinary shares during the period which
commences on 2 July 2007 and ends on 1 August 2007. The purchased shares will be
held as treasury shares.

The buy back programme will be managed by an independent third party, which
makes its trading decisions independently of, and uninfluenced by, the Company.

Any acquisitions will be effected within certain pre-set parameters, and in
accordance with both the Company's general authority to repurchase shares and
Chapter 12 of the Listing Rules which requires that the maximum price paid be
limited to no more than 5 per cent above the average market value for the shares
as derived from the London Stock Exchange Daily Official List for the five
business days immediately prior to such purchase.

The Company confirms that it currently has no unpublished price sensitive
information.

Contact:

Paul Chambers
Company Secretary
[e-mail]
Tel: [phone]



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