Director Shareholding

Bellway PLC
23 October 2001


                    BELLWAY PLC - DIRECTORS' SHAREHOLDINGS

                              23RD OCTOBER 2001

The company was yesterday informed that under the terms of the Bellway plc
Deferred Bonus Plan and the Bellway plc Employee Share Trust (1992)
(arrangements used to reward directors and employees) 83,447 Bellway plc
ordinary 12.5p shares were yesterday transferred to the following directors
for a consideration of £1 per director:


H C Dawe       -     26,285


J K Watson     -     16,781


A G Robson     -     22,026


P J Stoker     -     18,355


                     83,447


Immediately thereafter, 73,358 shares were sold at a price of 393p per share
as follows:


H C Dawe       -     26,285


J K Watson     -      6,712


A G Robson     -     22,026


P J Stoker     -     18,335


                     73,358


Following the foregoing transactions, the number of Bellway plc 12.5p ordinary
shares which are held by each of the directors concerned is as follows:


                       Current               Previous


H C Dawe           60,352 (0.05%)           60,352 (0.05%)


J K Watson          124,674 (0.11%)          114,605 (0.10%)


A G Robson          253,371 (0.23%)          253,371 (0.23%)


P J Stoker          405,020 (0.37%)          405,000 (0.37%)


In addition, following the above transactions the total number of shares held
in the Bellway plc Employee Share Trust (1992) is 586,375 (0.53%) (669,822;
(0.61%). Of these, the Executive directors have a beneficial interest in
171,652 (0.16%) (255,099; (0.23%) ordinary shares as follows:


H C Dawe       -      52,722


J K Watson     -      36,322


A G Robson     -      45,059


P J Stoker     -      37,549


                     171,652


In addition, each Bellway executive director has a potential further
beneficial interest in up to 414,723 (0.38%) (414,723; (0.38%) shares held in
the Trust.

The other interests of the directors remain unchanged.

Ends