Director Shareholding

Smith & Nephew Plc
28 February 2001


We have been notified on 27 February 2001 that Mr Warren
Knowlton, a director of the Company, acquired on the 27
February 2001, 500 American Depositary Shares ('ADSs')
representing 5,000 ordinary shares of the Company, at a price
of $47.50 per ADS.  In addition he acquired one ordinary share
at a price of £3.30.  Mr Knowlton now has an interest in 5,001
ordinary shares representing 0.0005% of the issued ordinary
share capital of the Company.