Holding(s) in Company

TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached (ii):

DS Smith Plc

2. Reason for the notification:

An acquisition or disposal of voting rights: ( )

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached: ( )

An event changing the breakdown of voting rights: ( )

Other (please specify): ( X )

Change in the placing of new Ordinary Shares

3. Full name of person(s) subject to the notification obligation (iii):

Sparinvest Fondsmæglerselskab A/S

4. Full name of shareholder(s) (if different from 3.)

Threshold is exceeded through capacity of operator of multiple mutual funds/UCITS

5. Date of the transaction (and date on which the threshold is crossed or reached if different) (v):

14 July 2010

6. Date on which issuer notified:

16 July 2010

7. Threshold(s) that is/are crossed or reached:

5%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares if possible using the ISIN CODE	Situation previous to the Triggering transaction (vi)
	Number of shares	Number of voting Rights (viii)
Ordinary GB0008220112	20,349,831	20,349,831

Resulting situation after the triggering transaction (vii)

Class/type of shares if possible using the ISIN CODE	Number of shares	Number of voting rights (ix)		% of voting rights
	Direct	Direct (x)	Indirect (xi)	Direct	Indirect
	20,349,831	20,349,831		4.70

B: Financial Instruments

Resulting situation after the triggering transaction (xii)

Type of financial instrument	Expiration Date (xiii)	Exercise/Conversion Period/ Date (xiv)	Number of voting rights that may be acquired if the instrument is exercised/ converted.	% of voting rights

Total (A+B)

Number of voting rights	% of voting rights
20,349,831	4.70%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable ^(xv):

Investeringsforeningen Sparinvest

- Cumulus Value 965,277 0.22 %

- Value Aktier 11,471,526 2.65%

Undisclosed Institutional Mandate

- 300,047 0.07%

- 916,488 0.21%

Sparinvest SICAV

- Global Value EUR R 5,878,787 1.36%

- European Value EUR R 161,905 0.04%

- Ethical Global Value EUR R 655,801 0.15%

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14. Contact name:
Lise Bøgelund, Sparinvest Holding A/S, Kingosvej 1, 2630 Taastrup

15. Contact telephone number:
+45 363 475 74

Identity of the notifier, if applicable (xvii)

Full name:

Carolyn Cattermole

Contact address:

DS Smith Plc, Beech House, Whitebrook Park, Maidenhead SL6 8XY

Phone number:

01628 583400