Director Shareholding

Smith & Nephew Plc
29 June 2001






29 June 2001



The Secretary

London Stock Exchange

Company Announcement Office

Old Broad Street

London

EC2N 1HP



Dear Sirs,

We have been notified today that Mr Warren Knowlton, a director of the
Company, acquired on 29 June 2001, 250 American Depositary Shares ('ADSs')
representing 2,500 ordinary shares of the Company, at a price of $52.80 per
ADS. Mr Knowlton now has an interest in 7,501 ordinary shares representing
0.0008% of the issued ordinary share capital of the Company.

Yours faithfully,









P.R. Chambers

Assistant Company Secretary