London, UK -- (MARKET WIRE) -- March 23, 2007 --

23 March 2007



Transaction in own shares.



Smith & Nephew plc announces that on 23 March 2007 it purchased 520,000 ordinary
shares of US$0.20 each at a price of 639.349 pence per share. The purchased
shares will be held as treasury shares.

Following the above purchase, Smith & Nephew plc holds 4,800,000 ordinary shares
in treasury, and has 940,384,128 ordinary shares in issue (excluding treasury
shares).




Paul Chambers
Company Secretary


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