Director Shareholding

Bellway PLC
08 April 2004


                                  BELLWAY PLC

                            DIRECTORS' SHAREHOLDINGS

                                 8TH APRIL 2004

The company was today informed that under the terms of the Bellway plc (1996)
Employee Share Option Scheme, Mr H C Dawe, a director of the company, today
exercised his option to purchase 49,500 Bellway plc 12.5p ordinary shares as
follows:

No of shares                    Price Per Share

49,500                          335.40p


Immediately thereafter Mr Dawe sold 45,000 shares at a price of 817p per share.


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

No of shares               %                  Previous                         %

86,852                 0.08%                    82,352                     0.07%


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


No of shares                         Previous

320,600                               370,100


The other interests of the directors remain unchanged.


Ends


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