Director Shareholding

Bellway PLC
19 May 2003

                                  19 May 2003


                      BELLWAY plc DIRECTORS SHAREHOLDINGS


The Company was informed on Friday 16 May 2003 that on the same day the
following directors exercised options to acquire 241,235 Bellway plc 12.5p
ordinary shares under the terms of the Bellway plc Executive Share Option Scheme
('Executive Scheme'), the Bellway plc (1995) Employee Share Option Scheme ('1995
Scheme') and the Bellway plc (1996) Employee Share Option Scheme ('1996 Scheme')
as follows:

Name                         Scheme                       No. of Shares                Price per Share

J K Watson                   1996 Scheme                  41,000                       305.00p

                             1996 Scheme                  20,000                       277.30p

                             1996 Scheme                  94,000                       293.80p

                                                          155,000
                             1996 Scheme                  53,000

P J Stoker                                                53,000                       305.00p

A M Leitch                   Executive Scheme             5,000                        238.30p

                             1995 Scheme                  1,000                        216.50p

                             1995 Scheme                  5,800                        273.50p

                             1996 Scheme                  5,000                        305.00p

                             1996 Scheme                  5,000                        327.50p

                             1996 Scheme                  3,800                        273.50p

                             1996 Scheme                  7,635                        248.00p

                                                          33,235

Total                                                     241,235

Immediately thereafter, 178,482 Bellway plc 12.5p ordinary shares were sold at a
price of 561.90p per share as follows:

J K Watson                                                111,000
P J Stoker                                                47,020
A M Leitch                                                20,462

Total                                                     178,482


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

Name                         Current                      Previous                     Increase

J K Watson                   178,851 (0.16%)              134,851 (0.12%)              44,000
P J Stoker                   421,000 (0.38%)              415,020 (0.37%)              5,980
A M Leitch                   32,500 (0.03%)               19,727 (0.02%)               12,773


In addition, following the above transactions the number of outstanding options
held over Bellway plc 12.5p ordinary shares by each of the above directors is as
follows:

Name                         Current                      Previous

J K Watson                   327,106                      482,106
P J Stoker                   390,406                      443,406
A M Leitch                   114,633                      147,868


The other interests of the directors remain unchanged.

Ends.


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