Director/PDMR Shareholding

1.

Name of the issuer

2.

State whether the notification relates to (i) a

transaction notified in accordance with DTR 3.1.2 R, 

(ii) a disclosure made in accordance 

LR 9.8.6R(1) or

(iii) a disclosure made in accordance with section 793 of the Companies Act (2006).

DS SMITH PLC

THIS NOTIFICATION IS IN ACCORDANCE WITH BOTH DR 3.1.4R(1)(a) AND (ii) DR 3.1.4(R)(1)(b)

3.

Name of person discharging managerial

responsibilities/director

4.

State whether notification relates to a person

connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person

(a) P M JOHNSON

(b) A D THORNE

(c) S W DRYDEN

N/A

5.

Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a nonbeneficial

interest 1

6.

Description of shares (including class), debentures or derivatives or financial instruments relating to shares

NOTIFICATION IS IN RESPECT OF HOLDINGS OF:

(a) P M JOHNSON

(b) A D THORNE

(c) S W DRYDEN 

ORDINARY SHARES OF 10P EACH

7.

Name of registered shareholders(s) and, if more than one, the number of shares held by each of them

8.

State the nature of the transaction

(a) P M JOHNSON 230,000

(b) A D THORNE 301,862

(c) S W DRYDEN NIL

ACQUISITION

9.

Number of shares, debentures or financial

instruments relating to shares acquired

10.

Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)

(a) P M JOHNSON 25,000

(b) A D THORNE  30,000

(c) S W DRYDEN  15,000

(a) P M JOHNSON 0.006%

(b) A D THORNE 0.008%

(c) S W DRYDEN  0.004%

11.

Number of shares, debentures or financial

instruments relating to shares disposed

12.

Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)

N/A

N/A

13.

Price per share or value of transaction

14.

Date and place of transaction

(a)P M JOHNSON 113.64p 

(b) A D THORNE 113.64p

(c) S W DRYDEN  113.64p

30 JUNE 2008, LONDON

15.

Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

16.

Date issuer informed of transaction

(a) P M JOHNSON TOTAL HOLDING - 255,000 ORDINARY SHARES OF 10P EACH TOTAL PERCENTAGE HOLDING - 0.065%

(b) A D THORNE TOTAL HOLDING - 331,862 ORDINARY SHARES OF 10P EACH TOTAL PERCENTAGE HOLDING - 0.084%

(c) S W DRYDEN TOTAL HOLDING - 15,000 ORDINARY SHARES OF 10P EACH TOTAL PERCENTAGE HOLDING - 0.004%

30 JUNE 2008

17.

Date of grant

18.

Period during which or date on which exercisable

N/A

N/A

19.

Total amount paid (if any) for grant of the option

20.

Description of shares or debentures involved (class and number)

N/A

N/A

21.

Exercise price (if fixed at time of grant) or

indication that price is to be fixed at the time of exercise

22.

Total number of shares or debentures over which options held following notification

N/A

N/A

23.

Any additional information

24.

Name of contact and telephone number for queries

N/A

N/A

Name of authorised official of issuer responsible for making notification

CAROLYN CATTERMOLE, COMPANY SECRETARY

Date of notification  30 JUNE 2008

(1)

An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.

(2)

An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24.

(3)

An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.

(4)

An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.