Source: London Stock Exchange plc.

Smith & Nephew PLC announces - Transaction in Own Shares

London, UK -- (MARKET WIRE) -- March 26, 2007 --

26 March 2007

Transaction in own shares.

Smith & Nephew plc announces that on 26 March 2007 it purchased 460,000 ordinary shares of US$0.20 each at a price of 644.9764 pence per share. The purchased shares will be held as treasury shares.

Following the above purchase, Smith & Nephew plc holds 5,260,000 ordinary shares in treasury, and has 939,990,178 ordinary shares in issue (excluding treasury shares).

Paul Chambers
Company Secretary

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