London, UK -- (MARKET WIRE) -- March 19, 2007 --

19 March 2007

Transaction in own shares.

Smith & Nephew plc announces that on 19 March 2007 it purchased 150,000 ordinary shares of US$0.20 each at a price of 638.1144 pence per share. The purchased shares will be held as treasury shares.

Following the above purchase, Smith & Nephew plc holds 2,910,000 ordinary shares in treasury, and has 942,069,703 ordinary shares in issue (excluding treasury shares).

Paul Chambers

Company Secretary

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