Director Shareholding

Bellway PLC
20 November 2003

                     BELLWAY PLC - DIRECTORS' SHAREHOLDINGS

                               20TH NOVEMBER 2003

The company was yesterday informed that under the terms of the Bellway plc
Employee Share Trust (1992) (a trust used to reward directors and employees)
deferred bonus rights were allocated on 18th November 2003 in respect of 108,346
Bellway plc 12.5p ordinary shares to the following executive directors as
follows:


H C Dawe          -      34,506

J K Watson        -      29,315

Peter Stoker      -      24,853

Alistair Leitch   -      19,672

                        108,346


The shares are to be held in the Bellway plc Employee Share Trust (1992) until
at least 18th November 2006, at which point they can be transferred into each
individual executive director's name for a consideration of £1 per director for
a period up to 2010. In addition, each director will be entitled to the
dividends which accrue in the three year period which will be settled by way of
a scrip issue of further shares.


Following the above transactions, the total number of shares held in the trust
is 418,753 (0.37%) (418,753;0.37%). Of these, the executive directors hold a
beneficial interest in 269,889 (0.24%) (161,543;0.14%).


In addition, each Bellway executive director has a potential further beneficial
interest in up to 148,864 (0.13%) (257,210;0.23%) Bellway plc 12.5p ordinary
12.5p ordinary shares held in the trust.


The other interests of the directors remain unchanged.


Ends


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