Transaction in Own Shares

Smith & Nephew plc

29 November 2010

Smith & Nephew plc - Transaction in Own Shares

Smith & Nephew plc announces that on 26 November 2010 it transferred a total of 12,660 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 on that date.

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

·; 1,358 ordinary shares at an exercise price of 576.5p per share; and

·; 7,067 ordinary shares at an exercise price of 455.5p per share; and

·; 3,427 ordinary shares at an exercise price of 425p per share.

·; 808 ordinary shares at an exercise price of 348p per share.

Following the above transactions, Smith & Nephew plc holds 62,747,255 ordinary shares in treasury, and has 889,572,469 ordinary shares in issue (excluding treasury shares).

Susan Henderson

Company Secretary