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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 (please state Yes/No):

An acquisition or disposal of voting rights: ( X )

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): ( )

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

Lloyds Banking Group plc

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

See section 9

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

28 January 2013

6. Date on which issuer notified:

29 January 2013

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

Indirect holdings decreased to below 7%

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

73,276,219 73,276,219

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

63,422,476

6.841%

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

63,422,476

6.841%

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

60,736,055 shares (6.551%) are under the control of Scottish Widows Investment Partnership Ltd, a wholly owned subsidiary of Scottish Widows Investment Partnership Group Ltd, a wholly owned subsidiary of Scottish Widows Group Ltd, a wholly owned subsidiary of Lloyds TSB Bank plc, a wholly owned subsidiary of Lloyds Banking Group plc.

Proxy Voting:

10. Name of the proxy holder: N/A

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

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

13. Additional information:

Notification using the Total Voting Rights figure of 927,084,680

14. Contact name:
Andrew Kellett

15. Contact telephone number:
0113 235 7729

Identity of the notifier, if applicable (xvii)

Full name:

Matthew Jowett

Contact address:

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

Phone number:

01628 583400


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