London, UK--(Marketwire - January 23, 2008) -

23 January 2008

Transaction in own shares.

Smith & Nephew plc announces that on 23 January 2008 it purchased 190,000
ordinary shares of US$0.20 each at a price of 591.3353 pence per share. The
purchased shares will be held as treasury shares.

Following the above purchase, Smith & Nephew plc holds 54,187,000 ordinary
shares in treasury, and has 893,577,604 ordinary shares in issue (excluding
treasury shares).

Paul Chambers
Company Secretary

                      This information is provided by RNS
            The company news service from the London Stock Exchange