Holding(s) in Company

Smith & Nephew Plc
31 January 2003


31 January 2003





The Secretary

London Stock Exchange

RNS

Old Broad Street

London

EC2N 1HP





Dear Sirs,



Smith & Nephew plc has been notified today, pursuant to Section 198 of the
Companies Act 1985 (as amended), by Legal & General Investment Management that
they have a notifiable interest in 31,890,915 ordinary shares of 12 2/9p each in
the Company representing 3.4% of the issued share capital of the Company.



Yours faithfully,

J.V. Sutton

Assistant Company Secretary




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