Director Shareholding

Bellway PLC
27 January 2003

                               27TH JANUARY 2003

                    BELLWAY PLC - DIRECTORS' SHARE HOLDINGS

The company was informed on Friday 24th January 2002 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 on Friday
24th January 2002 to an employee for a total consideration of £1.

Following the above transaction the total number of shares held in the trust is
463,556 (0.42%) (465,556; 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 302,013 (0.28%) Bellway plc ordinary 12.5p shares held in the
trust (304,013; 0.28%).

The other interests of the directors remain unchanged.

Ends


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