Director/PDMR Shareholding

DS Smith Plc ("the Company")

Notification of Transactions of
Persons Discharging Managerial Responsibility ("PDMR")

This notification is made pursuant to Disclosure and Transparency Rule 3.1.4.

We hereby notify you that on 2 March 2011, Gary Edward Saunders, a PDMR of the Company, notified us that he has today purchased 5,130 ordinary shares of 10p each in the Company for a consideration of 193.76p to be held in his own name and 5,129 ordinary shares of 10p each in the Company for a consideration of 193.79p to be held in the name of his wife, Susan Saunders.

Following this transaction Mr Saunders has an interest in a total of 10,259 shares of the Company, being 0.002% of the issued share capital.

Carolyn Cattermole

2 March 2011