Director Shareholding

Smith & Nephew Plc
25 November 2002


25 November 2002


The Secretary
London Stock Exchange
RNS
Old Broad Street
London
EC2N 1HP


Dear Sirs,


Dealing by Director in Ordinary shares of Smith & Nephew plc


We have been informed today that Dudley Eustace, a director of Smith & Nephew
plc, has acquired 195 Ordinary shares of the Company at 383.23 pence each on 22
November 2002, through the re-investment of the final dividend paid on 15
November 2002.  Mr. Eustace now has a beneficial interest in 49,679 Ordinary
shares being 0.0054% of the issued share capital of the Company.


Yours faithfully,


J.V. Sutton
Assistant Company Secretary




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