London, UK--(Marketwire - January 21, 2008) - 21 January 2008

Transaction in own shares.

Smith & Nephew plc announces that on 21 January 2008 it purchased 190,000 ordinary shares of US$0.20 each at a price of 600.6589 pence per share. The purchased shares will be held as treasury shares.

Following the above purchase, Smith & Nephew plc holds 53,847,000 ordinary shares in treasury, and has 893,917,604 ordinary shares in issue (excluding treasury shares).

Paul Chambers
Company Secretary

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