EXHIBIT 23.2

           NOTICE REGARDING CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

Section 11(a) of the Securities Act of 1933, as amended (the "Securities Act"),
provides that if part of a registration statement at the time it becomes
effective contains an untrue statement of a material fact, or omits a material
fact required to be stated therein or necessary to make the statements therein
not misleading, any person acquiring a security pursuant to such registration
statement (unless it is proved that at the time of such acquisition such person
knew of such untruth or omission) may assert a claim against, among others, an
accountant who has consented to be named as having certified any part of the
registration statement or as having prepared any report for use in connection
with the registration statement.

Smith International, Inc. ("Smith") dismissed Arthur Andersen LLP ("Arthur
Andersen") on April 15, 2002 as its independent public accountants. Arthur
Andersen has ceased operations and, as such, is unable to consent to the
incorporation by reference of their previously issued audit report with respect
to Smith's financial statements as of December 31, 2001 and for the two years
ended December 31, 2001 into Smith's previously filed registration statements
File No. 33-31556, No. 33-69840, No. 33-56693, No. 333-34249, No. 333-47729, No.
333-62629, No. 333-76633, No. 333-76635, No. 333-80091, No. 333-40734, No.
333-65912 and No. 333-88918.

Under these circumstances, Rule 437a under the Securities Act permits Smith to
file this Form 10-K, which is incorporated by reference into the above listed
registration statements, without a written consent from Arthur Andersen. As a
result, with respect to transactions in Smith securities pursuant to the
Registration Statements that occur subsequent to the date this Form 10-K is
filed with the Securities and Exchange Commission, Arthur Andersen will not have
any liability under Section 11(a) of the Securities Act for any untrue
statements of a material fact contained in the financial statements audited by
Arthur Andersen or any omissions of a material fact required to be stated
therein. Accordingly, investors would be unable to assert a claim against Arthur
Andersen under Section 11(a) of the Securities Act.