Word of the Day

Exchange-Traded Fund

In the wide and varied family of the thousands and thousands of funds out there, the exchange-traded fund is one of the more consumer-friendly ones.

Unlike mutual funds, exchange-traded funds, or ETFs, behave more like stocks. You can buy into an ETF at any time, and sell it whenever you feel like it. And like a stock, an ETF's value can rise and fall--depending on what the ETF is invested in.What do ETFs invest in? Well, they're typically linked to an index like the Dow Jones Industrial Average or the S&P 500. So, if you had an ETF that trades the same companies that make up the Dow or the S&P, it will rise and fall in value pretty much the same amount as the Dow or S&P.

You can also buy ETFs that invest in other types of products, like bonds, currencies, gold or other commodities. The ETF market has grown considerably in the past few years, so there is no shortage of ETFs to invest in.

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Monday, June 23, 2008

Smith & Nephew announces Holding(s) in Company

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Comtex

LONDON, Jun 23, 2008 (MARKET WIRE via COMTEX) ----

NOTIFICATION OF MAJOR INTERESTS IN SHARES 1. Name of company Smith & Nephew plc 2. Name of shareholder having a
major interest Legal & General Group plc 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 4. Name of the registered holder(s) and,
if more than one holder, the number of shares held by each of them Legal & General Assurance (Pensions Management) Limited
(PMC) Legal & General Group Plc (L&G) 5. Number of shares / amount of stock acquired 6. Percentage of issued class
7. Number of shares / amount of stock disposed 2,136,834 8. Percentage of issued class 9. Class of security Ordinary shares
of US 20 cents 10. Date of transaction 18.06.2008 11. Date company informed 20.06.2008 12. Total holding following this notification
44,187,114 13. Total percentage holding of issued class following this notification 4.98% 14. Any additional information 15.
Name of contact and telephone number for queries Gemma Parsons - Assistant Company Secretary 020 7960 2228 16. Name and signature
of authorised company official responsible for making this notification Gemma Parsons - Assistant Company Secretary Date of
notification 23.06.2008 The FSA does not give any express or implied warranty as to the accuracy of this document or material
and does not accept any liability for error or omission. The FSA is not liable for any damages (including, without limitation,
damages for loss of business or loss of profits) arising in contract, tort or otherwise from the use of or inability to use
this document, or any material contained in it, or from any action or decision taken as a result of using this document or
any such material. This information is provided by RNS The company news service from the London Stock Exchange

   Contacts: RNS Customer Services 0044-207797-4400 Email Contact http://www.rns.com

SOURCE: Smith & Nephew Plc

http://www2.marketwire.com/mw/emailprcntct?id=209CAEB78811E1B6 http://www.rns.com

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