Holding(s) in Company

Smith (DS) PLC
04 September 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1) Name of company

DS Smith PLC

2) Name of shareholder having a major interest

Deutsche Bank AG

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

As above

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them

Deutsche Bank AG and its subsidiary companies

5) Number of shares/amount of stock acquired

1,922,617

6) Percentage of issued class

0.59%

7) Number of shares/amount of stock disposed

N/A

8) Percentage of issued class

N/A

9) Class of security

Ordinary shares of 10p each

10) Date of transaction

3 September 2003

11) Date company informed

4 September 2003

12) Total holding following this notification

56,186,340

13) Total percentage holding of issued class following this notification

17.41%

14) Any additional information

15) Name of contact and telephone number for queries

Angela Hunter 020 7932 5032

16) Name and signature of authorised company official responsible for
making this notification

Carolyn Cattermole, Company Secretary

Date of notification 4 September 2003


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