Director Shareholding

Bellway PLC
17 October 2003

                                  BELLWAY PLC

                            DIRECTORS' SHAREHOLDINGS

                               17TH OCTOBER 2003





The company was yesterday informed that under the terms of the Bellway plc
Savings Related Share Option Scheme, the undernoted director acquired the
following ordinary 12.5p shares in Bellway plc at a consideration of 218p per
share being the applicable option price:

Name of director                                          Number of Shares
Howard Carlton Dawe                                       4443

He immediately thereafter sold all 4443 shares at a price of £6.90 per share.

Following the above transactions, the beneficial shareholding of Mr Dawe in the
ordinary share capital of the company is as follows:

Director                    No. of Shares                %                   Previous                  %
Howard Carlton Dawe             82,352                  0.07                  82,352                  0.07

Furthermore, the share options outstanding in respect of Mr Dawe following the
above transactions are as follows:

Director                                           No. of Shares                            Previous
Howard Carlton Dawe                                   296,100                                300,543

The other interests of the directors remain unchanged.

Ends


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