Holding(s) in Company

Smith (DS) PLC
16 March 2007



TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES


1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached (ii):

DS Smith Plc


2. Reason for the notification (please state Yes/No): ( )


An acquisition or disposal of voting rights: ( X )


An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached: ( )


An event changing the breakdown of voting rights: ( )


Other (please specify) : Initial notification as per regulatory requirement ( )


3. Full name of person(s) subject to the notification obligation (iii):

AXA S.A., 25 Avenue Matigon, 75008 Paris and its group of companies


4. Full name of shareholder(s) (if different from 3.) (iv):


5. Date of the transaction (and date on which the threshold is crossed or
reached if different) (v):

2 March 2007


6. Date on which issuer notified:

16 March 2007


7. Threshold(s) that is/are crossed or reached:



8. Notified details:


A: Voting rights attached to shares

Class/type of shares if possible using    Situation previous to the Triggering
the ISIN CODE                                       transaction (vi)
                                        Number of      Number of voting Rights
                                        shares         (viii)

0822011                                 N/A            N/A



Resulting situation after the triggering transaction (vii)

Class/type of shares if Number of    Number of voting rights    % of voting
possible using the ISIN shares       (ix)                       rights
CODE

                        Direct       Direct (x)   Indirect (xi) Direct  Indirect

0822011                 4,008,795    4,008,795    52,349,659    1.02    13.32


B: Financial Instruments

Resulting situation after the triggering transaction (xii)

Type of     Expiration Exercise/       Number of voting rights that may  % of
financial   Date       Conversion      be acquired if the instrument is  voting
instrument  (xiii)     Period/ Date    exercised/ converted.             rights
                       (xiv)





Total (A+B)

Number of voting rights                      % of voting rights

56,358,454                                  14.34%


9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable (xv):

See attached schedule.


Proxy Voting:


10. Name of the proxy holder:


11. Number of voting rights proxy holder will cease to hold:


12. Date on which proxy holder will cease to hold voting rights:


13. Additional information:

The Shares referred to in section 9 are held in portfolios managed by those
firms on a discretionary bases for clients under investment management
agreements.



14. Contact name:
Terry Marsh


15. Contact telephone number:
020 7003 2637


Identity of the notifier, if applicable (xvii)


Full name:

Carolyn Cattermole


Contact address:

DS Smith Plc, 4-16 Artillery Row, London SW1P 1RZ


Phone number:

020 7932 5030


                                    SCHEDULE

9. Chain

Name of Company/Fund            Number of Shares    % of issued share capital

AXA Rosenberg                             741,000                      0.18853
Direct
AXA Rosenberg                             555,000                      0.14121
Direct
AXA Financial, Inc                     36,341,224                      9.24621
Indirect
AXA Rosenberg                          16,008,435                      4.07299
Indirect
Sun Life Pensions Management
Limited                                    22,500                      0.00572
Direct
Sun Life Pensions Management
Limited                                   158,000                      0.04020
Direct
Sun Life Unit Assurance Limited
ABL High Alpha                            341,900                      0.08699
Direct
Sun Life Unit Assurance All
Share Tracker                              67,052                      0.01706
Direct
Sun Life Pensions Management
ABL High Alpha                          1,648,800                      0.41950
Direct
Sun Life Pensions Management
FTSE All Share Tracker                    375,708                      0.09559

Direct
AXA Winterthur                             98,835                      0.02515

Direct

                   Total Direct         4,008,795                      1.01995
                 Total Indirect        52,349,659                     13.31920
                        TOTAL          56,358,454                     14.33914




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