Holding(s) in Company

Smith & Nephew Plc
4 April 2002


4 April 2002

The Secretary

London Stock Exchange

Company Announcement Office

Old Broad Street

London

EC2N 1HP




Dear Sirs,


The Company has been notified today, pursuant to Section 198 of the Companies
Act 1985 (as amended), that Zurich Financial Services and its Group cease to
have a notifiable interest in the ordinary share capital of Smith & Nephew plc.


Yours faithfully,




P.R. Chambers

Assistant Company Secretary



                      This information is provided by RNS
            The company news service from the London Stock Exchange