Holding in Company

Smith & Nephew Plc
27 September 2000


The Company has been notified on 26 September 2000 pursuant to
Section 198 of the Companies Act 1985 (as amended), by
AXA Investment Managers UK Limited that they have a notifiable
interest in 55,075,034 ordinary shares of 12 2/9p each in the
Company representing 6.01% of the issued share capital of
the Company.