Holding in Company

Smith & Nephew Plc
17 July 2001


17 July 2001


The Secretary

London Stock Exchange

Company Announcement Office

Old Broad Street

London

EC2N 1HP



Dear Sirs,


Smith & Nephew plc has been notified on 17 July 2001

pursuant to Section 198 of the Companies Act 1985 (as

amended), by FMR Corp and Fidelity International Limited that

they have a notifiable interest in 38,497,625 ordinary shares

of 12 2/9p each in the Company representing 4.18% of the

issued share capital of the Company.



Yours faithfully,

P.R. Chambers

Assistant Company Secretary