Director Shareholding

Bellway PLC
22 January 2003

                               22ND JANUARY 2003

                    BELLWAY PLC - DIRECTORS' SHARE HOLDINGS

The company was today informed that under the terms of the Bellway plc Employee
Share Trust (1992) (a trust used to reward directors and employees) 4,500
Bellway plc 12.5p ordinary shares were transferred today to two employees for a
total consideration of £1 each.

Following the above transaction the total number of shares held in the trust is
465,556 (0.42%) (470,056; 0.43%). Of these, the executive directors hold a
beneficial interest in 161,543 (0.15%) (161,543; 0.15%).

In addition, each Bellway executive director has a potential further beneficial
interest in up to 304,013 (0.28%) Bellway plc ordinary 12.5p shares held in the
trust (308,513; 0.28%).

The other interests of the directors remain unchanged.

Ends


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