Director Shareholding

Bellway PLC
29 October 2004


                     BELLWAY PLC - DIRECTORS' SHAREHOLDINGS

                               29TH OCTOBER 2004


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 26th October 2004 in respect of 104,438
Bellway plc 12.5p ordinary shares to the following executive directors as
follows:

H C Dawe            -      33,283

J K Watson          -      28,336

P J Stoker          -      23,928

A M Leitch          -      18,891

                          104,438

The shares are to be held in the Bellway plc Employee Share Trust (1992) until
at least 26th October 2007, at which point they can be transferred into each
individual executive directors' name for a consideration of £1 per director for
a period up to 2011. 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 498,452 (0.45%) (498,452; 0.45%). Of these the executive directors hold a
beneficial interest in 309,815 (0.28%) (205,377; 0.18%).

In addition, each Bellway executive director has a potential further beneficial
interest in up to 188,367 (0.17%) (293,075; 0.26%) Bellway plc 12.5p ordinary
shares held in the trust.

The other interests of the directors remain unchanged.


Ends


                      This information is provided by RNS
            The company news service from the London Stock Exchange