Directors' Dealings

SMITH (DAVID S) (HOLDINGS) PLC
8 October 1999

DAVID S SMITH (HOLDINGS) PLC ('the Company')

In pursuance of the Company's obligations under Section 329 of the Companies
Act 1985 and Chapter 16, paragraphs 16.13(a) and 16.13(c) of the Listing
Rules, I hereby notify you of the following share transaction which occurred
on 7 October 1999.

The Directors listed below have today notified the Company that they have
become interested in the number of ordinary shares of 10p each of the Company
also shown below as a result of a purchase of David S Smith Employee Benefit
Trust Limited as trustees of The David S Smith General Employee Benefit Trust
('the Trust').  These interests arise merely because the Directors are
(together with other Group employees) potential beneficiaries of the Trust.

Directors          Date of            No. of     Price per     Transaction
                   Transaction        Shares     share

J P Williams  )    7 October 1999     214,992    175p          Purchase
D F Buttfield )
J S Russell   )
E C Smith and )
O A Stratton  )