WASHINGTON, D.C. 20549

                       Report of Foreign Private Issuer
                       Pursuant to Rule 13a-16 or 15d-16
                       of the Securities Exchange Act of

                               October 11, 2002

                              SMITH & NEPHEW plc
                              (Registrant's name)

                                15 Adam Street
                           London, England WC2N 6LA
             (Address of registrant's principal executive offices)

     [Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.]

               Form 20-F     X                  Form 40-F
                           -----                          -----

     [Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing information to
the Commission pursuant to Rule 12g3-2 (b) under the Securities Exchange Act
of 1934.]

               Yes                              No   X
                   -----                           -----

     If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2 (b) : 82- n/a.

                                                                Total Pages: 2

10 October 2002

The Secretary
PR Newswire
Ludgate House
245 Blackfriars Road

Dear Sirs,

Smith & Nephew plc has been notified today, pursuant to Section 198 of the
Companies Act 1985 (as amended), by FMR Corp and Fidelity International
Limited that they have a notifiable interest in 65,061,418 ordinary shares of
12 2/9p each in the Company representing 7.01% of the issued share capital of
the Company.

Yours faithfully,

J.V. Sutton
Assistant Company Secretary