Director Shareholding

Smith & Nephew Plc
4 May 2001


Smith & Nephew plc has been informed today that Mourant & Co.
Trustees Limited, as trustee of The Smith & Nephew Employees'
Share Trust has purchased a total of 369,086 ordinary shares
in the Company in the market on the 3rd and 4th May 2001 at
an average price of 321.42 pence per share, representing 0.04%
of the issued ordinary share capital.

The Trust, which now holds a total of 1,107,961 shares representing
0.12% of the issued ordinary share capital of the Company, is a 
discretionary trust of which all employees of the Company and its 
subsidiaries are potential beneficiaries.
Each of the executive directors of the Company is, therefore,
interested in the shares held in the Trust from time to time
in the same way as other employees of the Group.

P.R. Chambers
Assistant Company Secretary