Holding(s) in Company

Smith (DS) PLC
24 January 2007



TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES


1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached (ii):

DS Smith Plc


2. Reason for the notification (please state Yes/No): ( )


An acquisition or disposal of voting rights: ( )


An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached: ( )


An event changing the breakdown of voting rights: ( )


Other (please specify) : Initial notification due to change of thresholds for
non-material interest (X)


3. Full name of person(s) subject to the notification obligation (iii):

Prudential plc group of companies


4. Full name of shareholder(s) (if different from 3.) (iv):

See attached schedule


5. Date of the transaction (and date on which the threshold is crossed or
reached if different) (v):

20 January 2007


6. Date on which issuer notified:

24 January 2007


7. Threshold(s) that is/are crossed or reached:

5%


8. Notified details:


A: Voting rights attached to shares

Class/type of shares if possible using    Situation previous to the Triggering
the ISIN CODE                                       transaction (vi)
                                        Number of      Number of voting Rights
                                        shares         (viii)

GB0008220112                              35,399,605                35,399,605



Resulting situation after the triggering transaction (vii)

Class/type of shares if    Number of     Number of voting       % of voting
possible using the ISIN    shares        rights (ix)            rights
CODE

                           Direct        Direct (x)    Indirect Direct  Indirect
                                                       (xi)

                            35,399,605    35,399,605             9.01%


B: Financial Instruments

Resulting situation after the triggering transaction (xii)

Type of     Expiration Exercise/       Number of voting rights that may  % of
financial   Date       Conversion      be acquired if the instrument is  voting
instrument  (xiii)     Period/ Date    exercised/ converted.             rights
                       (xiv)



N/A         N/A        N/A             N/A                               N/A



Total (A+B)
Number of voting rights                      % of voting rights

     35,399,605                                9.01%


9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable (xv):

See attached schedule


Proxy Voting:


10. Name of the proxy holder:
N/A



11. Number of voting rights proxy holder will cease to hold:

N/A


12. Date on which proxy holder will cease to hold voting rights:
N/A


B: Identity of the notifier, if applicable (xvii)


Full name:

Carolyn Cattermole



Contact address:

DS Smith Plc, 4-16 Artillery Row, London SW1P 1RZ


Phone number:

020 7932 5000



              Notifiable Position Report for Smith(DS) Ord GBP0.10

As at 19 January 2007


Percentage holdings are calculated using an issued share capital of 392,798,035

               Registered Holder                Holding                      %

Prudential plc                             35,399,605   9.01 total notifiable
                                                        interest
               JP MORGAN NOMINEES             692,400
               M&G INCOME INV CO LTD          600,000
               NORTRUST NOMINEE LTD A/C     2,750,000
               MHA01
               NORTRUST NOMINEE LTD A/C       750,000
               MHE01
               NORTRUST NOMINEE LTD A/C        79,839
               MHF01
               NORTRUST NOMINEE LTD A/C     2,725,350
               MKB01
               NORTRUST NOMS LTD              665,795
               NORTRUST NOMS LTD A/C        7,500,000
               CRI01
               NORTRUST NOMS LTD A/C          325,000
               MVA01
               NORTRUST NOMS LTD A/C          450,000
               PUC01
               PRUCLT HSBC GIS NOM (UK)    16,800,000
               PAC AC
               PRUCLT HSBC GIS NOM (UK)     1,100,000
               PHL AC
               PRUCLT HSBC GIS NOM (UK)       146,221
               PPL AC
               PRUCLT HSBC GIS NOM (UK)       290,000
               HYBF AC
               RECOVERY INV COMPANY           525,000
               LIMITED



              Notifiable Position Report for Smith(DS) Ord GBP0.10

As at 19 January 2007


Percentage holdings are calculated using an issued share capital of 392,798,035

                  Registered Holder              Holding                     %

M&G Group Limited                           34,707,205   8.83 total notifiable
                                                         interest
                  M&G INCOME INV CO LTD        600,000
                  NORTRUST NOMINEE LTD A/C   2,750,000
                  MHA01
                  NORTRUST NOMINEE LTD A/C     750,000
                  MHE01
                  NORTRUST NOMINEE LTD A/C      79,839
                  MHF01
                  NORTRUST NOMINEE LTD A/C   2,725,350
                  MKB01
                  NORTRUST NOMS LTD            665,795
                  NORTRUST NOMS LTD A/C      7,500,000
                  CRI01
                  NORTRUST NOMS LTD A/C        325,000
                  MVA01
                  NORTRUST NOMS LTD A/C        450,000
                  PUC01
                  PRUCLT HSBC GIS NOM (UK)  16,800,000
                  PAC AC
                  PRUCLT HSBC GIS NOM (UK)   1,100,000
                  PHL AC
                  PRUCLT HSBC GIS NOM (UK)     146,221
                  PPL AC
                  PRUCLT HSBC GIS NOM (UK)     290,000
                  HYBF AC
                  RECOVERY INV COMPANY         525,000
                  LIMITED



              Notifiable Position Report for Smith(DS) Ord GBP0.10

As at 19 January 2007


Percentage holdings are calculated using an issued share capital of 392,798,035

                          Registered Holder          Holding                 %

M&G Investment Management
                                                34,627,366   8.81 total
Limited                                                      notifiable interest
                          M&G INCOME INV CO        600,000
                          LTD
                          NORTRUST NOMINEE LTD   2,750,000
                          A/C MHA01
                          NORTRUST NOMINEE LTD     750,000
                          A/C MHE01
                          NORTRUST NOMINEE LTD   2,725,350
                          A/C MKB01
                          NORTRUST NOMS LTD        665,795
                          NORTRUST NOMS LTD A/   7,500,000
                          C CRI01
                          NORTRUST NOMS LTD A/     325,000
                          C MVA01
                          NORTRUST NOMS LTD A/     450,000
                          C PUC01
                          PRUCLT HSBC GIS NOM   16,800,000
                          (UK) PAC AC
                          PRUCLT HSBC GIS NOM    1,100,000
                          (UK) PHL AC
                          PRUCLT HSBC GIS NOM      146,221
                          (UK) PPL AC
                          PRUCLT HSBC GIS NOM      290,000
                          (UK) HYBF AC
                          RECOVERY INV COMPANY     525,000
                          LIMITED



              Notifiable Position Report for Smith(DS) Ord GBP0.10

As at 19 January 2007


Percentage holdings are calculated using an issued share capital of 392,798,035

            Registered Holder                 Holding                        %

M&G Limited                              34,707,205   8.83 total notifiable
                                                      interest
            M&G INCOME INV CO LTD           600,000
            NORTRUST NOMINEE LTD A/C      2,750,000
            MHA01
            NORTRUST NOMINEE LTD A/C        750,000
            MHE01
            NORTRUST NOMINEE LTD A/C         79,839
            MHF01
            NORTRUST NOMINEE LTD A/C      2,725,350
            MKB01
            NORTRUST NOMS LTD               665,795
            NORTRUST NOMS LTD A/C CRI01   7,500,000
            NORTRUST NOMS LTD A/C MVA01     325,000
            NORTRUST NOMS LTD A/C PUC01     450,000
            PRUCLT HSBC GIS NOM (UK)     16,800,000
            PAC AC
            PRUCLT HSBC GIS NOM (UK)      1,100,000
            PHL AC
            PRUCLT HSBC GIS NOM (UK)        146,221
            PPL AC
            PRUCLT HSBC GIS NOM (UK)        290,000
            HYBF AC
            RECOVERY INV COMPANY            525,000
            LIMITED



The Prudential Assurance
                                                        16,946,221        4.31
Company Limited
  PRUCLT HSBC GIS NOM (UK) PAC                          16,800,000
  PRUCLT HSBC GIS NOM (UK) PPL AC                          146,221






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