Disposal

Smith & Nephew Plc
18 August 2003


18 August 2003


DISPOSAL OF 21 1/2% INTEREST IN ABILITY ONE

Smith & Nephew, the global advanced medical devices company, announces that it
has agreed to sell its 21 1/2% interest in AbilityOne Corporation for £49m in
cash.

Smith & Nephew retained a 21 1/2% interest in AbilityOne on the disposal of its
Rehabilitation business in March 2002. This is now being acquired as part of
the acquisition of AbilityOne by Patterson Dental Inc.

Completion is expected in September. The net proceeds will be used to reduce
net debt. The exceptional gain on the disposal will be £29m before tax.

Sir Christopher O'Donnell, Chief Executive of Smith & Nephew said 'This
transaction completes our exit from our Rehabilitation business on a favourable
basis.'


Enquiries:

Smith & Nephew
Angie Craig                                           Tel: [phone]
Corporate Affairs Director

Financial Dynamics
David Yates                                           Tel: [phone]



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