Transaction in own shares.Smith & Nephew plc announces that on 26 June 2008 it purchased 175,000ordinary shares of USUSD0.20 each at a price of 557.2936 pence per share.The purchased shares will be held as treasury shares.Following the above purchase, Smith & Nephew plcholds 63,299,483 ordinary shares in treasury, andhas 885,605,797 ordinary shares in issue (excluding treasury shares).Paul ChambersCompany Secretary                    This information is provided by RNS          The company news service from the London Stock ExchangeEND