Director/PDMR Shareholding

Smith (DS) PLC
01 April 2008


For immediate release                                               1 April 2008


                                 D S Smith plc
                                (the 'Company')

        Notification of a dealing in the Company's shares by a director


This notification is made pursuant to Disclosure and Transparency Rule 3.1.4.

The Company announces the following dealing in the Company's ordinary shares of
10p each ('Shares') by a director of the Company.

On 1 April 2008 the Company granted a conditional award (the 'Award') over
143,404 Shares to Steve Dryden, the Company's new Group Finance Director who
commenced employment with the Company on 1 April 2008.

The Award will normally vest over the following numbers of Shares on the
following dates provided Steve Dryden remains an employee or director:

           Normal date of vesting                Number of Shares

                1 March 2009                          30,226

                1 March 2010                          38,504

                1 March 2011                          74,674

The Award was granted to Steve Dryden under Listing Rule 9.4.2R(2) to facilitate
his recruitment to the Company and to compensate him for awards held in his
previous company. Further information regarding the Award will be disclosed in
the next annual report published by the Company.

No consideration was paid for the grant of the Award and no consideration is
payable on the vesting of the Award.

For and on behalf of D S Smith Plc


Carolyn Cattermole
Company Secretary
020 7932 5030




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