WASHINGTON, D.C. 20549

                       Report of Foreign Private Issuer

                       Pursuant to Rule 13a-16 or 15d-16
                       of the Securities Exchange Act of

                               October 19, 2004

                       Commission File Number 001-14978

                              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 if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1).]

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

         [Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7).]

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

         [Indicate by check mark whether by furnishing the information
contained in this Form, the registrant 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: 5


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                                        Smith & Nephew plc

Date: October 19, 2004                             By:  /s/ Paul Chambers
                                                        Paul Chambers
                                                        Company Secretary


                                  SCHEDULE 10


1. Name of company


2. Name of shareholder having a major interest

FMR Corp and Fidelity International Limited

3. Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a non-beneficial
interest or in the case of an individual holder if it is a holding of that
person's spouse or children under the age of 18

Non-beneficial interest

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

Bank of New York Brussels     205,200
Bank of New York Europe   134,663
Bank of New York London   424,567
Bank of New York Brussels     87,500
Brown Brothers Harriman Ltd   29,600
Chase Manhattan Bank London   447,700
Deutsche Bank    146,836
HSBC Client Holdings Nominee (UK) Limited   486,279
JP Morgan   970,230
Master Trust Bank of Japan    47,300
Mellon Bank   147,400
Mellon Nominees Limited   47,500
Morgan Stanley   430,075
Northern Trust   372,280
Northern Trust London   100,300
Nortrust Nominees Limited   821,237
Northern Trust London   133,600
RBS Trust Bank   372,518
State Street Bank & Trust   106,200
State Street Bank & Trust Co   58,942
State Street Nominees Ltd     338,800
JP Morgan   163,372
Chase Nominees Limited   22,393,405
HSBC    991,540
HSBC Client Holdings Nominee (UK) Limited   22,933,724
HSBC Client Holdings Nominee Limited     6,546,603
State Street Nominees Limited   4,182,360
Brown Brothers Harriman   9,300

Lloyds Bank Nominees Limited   555,800
Mellon Bank   8,460
SAI      65,000
State Street Bank & Trust   7,400
State Street Nominees Ltd   9,500
Bank of New York Europe   190,500
Bankers Trust   428,118
Citibank    243,254
MSS Nominees Ltd    132,127

5. Number of shares / amount of stock acquired

6. Percentage of issued class

7. Number of shares / amount of stock disposed

8. Percentage of issued class

9. Class of security

Ordinary Shares of 12 2/9p

10. Date of transaction

11. Date company informed


12. Total holding following this notification


13. Total percentage holding of issued class following this notification


14. Any additional information

15. Name of contact and telephone number for queries

Kate Cummins
Company Secretarial Assistant
0207 960 2251

16. Name and signature of authorised company official responsible for making
this notification

P. R. Chambers

Date of notification


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