Trading Statement

Bellway PLC
03 February 2005

                                 Bellway p.l.c.

                                 Trading Update

                            Thursday 3 February 2005



Bellway is pleased to announce that in the six months to 31 January 2005, sales
of new homes were 2,930, up from 2,728, an increase of over 7% compared to the
same period last year. These sales were achieved at an average selling price of
around £165,000, up from £156,900, still one of the lowest in the industry.
During the period we increased both the number of private homes sold and sales
to Housing Associations. The operating margin is likely to be slightly ahead of
the 18.5% achieved in the six months to January 2004.

Although the Group is experiencing a weaker market compared with the
exceptionally strong conditions of last year, activity levels have returned to a
more sustainable level and the fundamentals of the market remain encouraging.
Bellway's policy of forward selling has resulted in the Group already securing
over 86% of this year's sales target of around 7,000 homes. We anticipate
selling from around 10% more sites over the next six months and this combined
with our continuing policy of forward selling should satisfy our growth
aspirations.

The forward order book currently stands at £560 million compared to £542 million
at this time last year.

As the Group enters the second half of the financial year its wide geographic
coverage, coupled with the previously stated policy of serving the lower to
middle end of the market, should ensure that Bellway delivers record annual
profits for the ninth year in succession, in line with market expectations.

The results for the six months to 31 January 2005 will be announced to the Stock
Exchange on Tuesday 19 April.





FOR FURTHER INFORMATION, PLEASE CONTACT JOHN WATSON, CHIEF EXECUTIVE OR ALISTAIR
LEITCH, FINANCE DIRECTOR ON 0191 217 0717 FROM 8AM ONWARDS
















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