Director Shareholding

Bellway PLC
14 January 2003

                               14TH JANUARY 2003

                    BELLWAY PLC - DIRECTORS' SHARE HOLDINGS


The company was today informed that under the terms of the Bellway plc Employee
Share Trust (1992) (a trust used to reward directors and employees) 2,000
Bellway plc 12.5p ordinary shares were transferred today to an employee for a
total consideration of £1.

Following the above transaction the total number of shares held in the trust is
470,056 (0.43%) (472,056; 0.43%). Of these, the executive directors hold a
beneficial interest in 161,543 (0.15%) (161,543; 0.15%).

In addition, each Bellway executive director has a potential further beneficial
interest in up to 308,513 (0.28%) Bellway plc ordinary 12.5p shares held in the
trust (310,513; 0.28%).

The other interests of the directors remain unchanged.

Ends


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