AGM Statement

Bellway PLC
10 January 2003

                                  BELLWAY PLC

                   AGM STATEMENT - FRIDAY, 10TH JANUARY 2003


At the Annual General Meeting of Bellway p.l.c., to be held at 12 noon today in
Newcastle upon Tyne, the Chairman, Mr H C Dawe, will make the following
statement :-

                'Bellway will be announcing its interim results for the six
                months ending on 31st January 2003 on Thursday 10th April 2003'.

                'The financial year started on a very sound footing with a
                record forward order book of £325m and since 1st August visitor
                levels and sales have remained strong throughout all our areas
                of operation'.

                'Low mortgage rates, under supply and healthy demand continues
                to underpin the new homes market. We anticipate a more
                sustainable rate of house price inflation in future and our
                strategy of moving away from the higher priced Central London
                market seems well timed. Due in the main to changes in product
                mix and our broad geographical spread, we have seen a
                substantial increase in our average selling price'.

                'On the basis of our performance to date and in line with our
                plans, we anticipate a more balanced distribution of sales and
                profit between the first and second halves. I am confident that
                Bellway is well positioned to deliver another good set of
                results for the financial year ending 31st July 2003'.

                'Prior to entering its close period Bellway will be releasing a
                Trading Update on Wednesday 5th February 2003'.



        Contacts: J K Watson, Chief Executive (0191 217 0717 or 07855 337007) or

                  A M Leitch, Finance Director (0191 217 0717 or 07855 337001)


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