Director Shareholding

Bellway PLC
4 December 2001

                              4TH DECEMBER 2001


                   BELLWAY PLC - DIRECTORS' SHARE HOLDINGS


The company was yesterday informed that under the terms of the Bellway plc
Employee Share Trust (1992) (arrangements used to reward directors and
employees) deferred bonus rights were yesterday allocated in respect of 51,328
Bellway plc 12.5p ordinary shares to certain directors of Bellway plc as
follows:


H C Dawe          -     20,681

J K Watson        -     15,840

P J Stoker        -     14,807


                        51,328


The shares are to be held in the Bellway plc Employee Share Trust (1992) until
at least 20th October 2004, whereupon they will be capable of being
transferred into each individual directors' name for a consideration of £1 by
each director for a period up to 2nd December 2008.


Following the above transactions, the total number of shares held in the trust
is 566,375 (0.51%) (566,375;0.51%). Of these, the executive directors hold a
beneficial interest in 222,980 (0.20%) (171,652;0.16%) shares as follows:


H C Dawe            -      73,403

J K Watson          -      52,162

P J Stoker          -      52,356

A G Robson          -      45,059


                          222,980


In addition, each Bellway executive director has a potential further
beneficial interest in up to 343,395 (0.32%) (394,723;0.36%) shares held in
the Trust.


The other interests of the directors remain unchanged.


Ends