Transaction in Own Shares

Smith & Nephew plc

15 November 2010

Smith & Nephew plc - Transaction in Own Shares

Smith & Nephew plc announces that on 12 November 2010 it transferred a total of 32,823 ordinary shares of US$0.20 each to participants of the Smith & Nephew ShareSave Plan and the Smith & Nephew International ShareSave Plan, who had exercised options following maturity on 1 November 2010.

The shares, which were all formerly held as Treasury shares, were transferred as follows:

·; 452 ordinary shares at an exercise price of 576.5p per share; and

·; 307 ordinary shares at an exercise price of 507p per share; and

·; 23,488 ordinary shares at an exercise price of 455.5p per share; and

·; 1,549 ordinary shares at an exercise price of 431p per share.

·; 6,359 ordinary shares at an exercise price of 425p per share.

·; 668 ordinary shares at an exercise price of 380p per share.

Following the above transactions, Smith & Nephew plc holds 62,759,915 ordinary shares in treasury, and has 889,477,410 ordinary shares in issue (excluding treasury shares).

Gemma Parsons

Deputy Company Secretary