Directors' Dealings

DAVID S. SMITH (HOLDINGS) PLC 13 September 1999 David S. Smith (Holdings) PLC ('the Company') We hereby notify you that on 27 August 1999, Mr J S Russell a Director of David S. Smith (Holdings) PLC exercised his option under the Company's Employee Benefit Trust and acquired 12,996 ordinary shares of the Company at a total exercise price of 100p. As the performance targets under the Company's Long Term Incentive Plan for the three year period ending 31 July 1999 were not satisfied, the Director is not eligible to exercise his performance related options totalling 25,992 shares which lapse. Mr J S Russell holds a total of 91,567 shares of David S. Smith (Holdings) PLC following this notification.

Companies

Smith (DS) (SMDS)
UK 100

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