SOURCE: Smith & Nephew PLC

December 21, 2007 07:06 ET

Smith & Nephew PLC announces Transaction in Own Shares

London, UK--(Marketwire - December 21, 2007) - Smith & Nephew PLC

21 December 2007

Smith & Nephew PLC - Transactions in Own Shares

Smith & Nephew PLC (the "Company") announces that it has commenced a non-discretionary programme to buy back ordinary shares during the period which commences on 21 December 2007 and ends on 6 February 2008. The purchased shares will be held as treasury shares.

The buy back programme will be managed by an independent third party, which makes its trading decisions independently of, and uninfluenced by, the Company.

Any acquisitions will be effected within certain pre-set parameters, and in accordance with both the Company's general authority to repurchase shares and Chapter 12 of the Listing Rules which requires that the maximum price paid be limited to no more than 5 per cent above the average market value for the shares as derived from the London Stock Exchange Daily Official List for the five business days immediately prior to such purchase.

The Company confirms that it currently has no unpublished price sensitive information.

PR Chambers
Company Secretary

0207 401 7646

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