Holding(s) in Company

For filings with the FSA include the annex  
                                            
For filings with issuer exclude the annex   

TR-1: Notifications of Major Interests in Shares                               

1. Identity of the issuer or the underlying                         BELLWAY PLC
issuer of existing shares to which voting                                      
rights are attached:                                                           

2. Reason for notification (yes/no)                                            
                                                                               
An acquisition or disposal of voting rights                                 YES
                                                                               
An acquisition or disposal of financial instruments which may result           
in the acquisition of shares already issued to which voting rights             
are attached                                                                   
                                                                               
An event changing the breakdown of voting rights                               
                                                                               
Other (please specify):______________                                          

3. Full name of person(s) subject to     JPMorgan Asset Management Holdings Inc
notification obligation:                                                       
                                                                               
4. Full name of shareholder(s) (if       JPMorgan Asset Management (UK) Limited
different from 3):                                                             
                                             JPMorgan Asset Management (Taiwan)
                                                                        Limited
                                                                               
5. Date of transaction (and date on                             21 October 2009
which the threshold is crossed or                                              
reached if different):                                                         
                                                                               
6. Date on which issuer notified:                                   21 May 2010
                                                                               
7. Threshold(s) that is/are crossed or                             5% downwards
reached:                                                                       

8: Notified Details                                                          
                                                                             
A: Voting rights attached to shares                                          
                                                                             
Class/type   Situation previous  Resulting situation after the triggering    
of shares    to the triggering   transaction                                 
             transaction                                                     
If possible                                                                  
use ISIN                                                                     
code                                                                         
                                                                             

Number of    Number of Number of Number of voting  Percentage of              
shares       voting    shares    rights            voting rights              
             rights                                                           
                                 Direct   Indirect Direct    Indirect         
                                                                              
GB0000904986 6,045,701 5.01%                       5,712,902          4.73%   

B: Qualifying Financial Instruments                                            
                                                                               
Resulting situation after the triggering transaction                           
                                                                               
Type of        Expiration     Exercise/       No. of voting      Percentage of 
financial      date           conversion      rights that may be voting rights 
instrument                    period/date     acquired (if the                 
                                              instrument                       
                                              exercised/                       
                                              converted)                       
                                                                               

C: Financial Instruments with similar economic effect to Qualifying Financial  
Instruments                                                                    
                                                                               
Resulting situation after the triggering transaction                           
                                                                               
Type of       Exercise    Expiration Exercise    Number of     % of voting     
financial     Price       date       Conversion  voting rights rights          
instrument                           period      instrument                    
                                                 refers to                     
                                                               Nominal  Delta  
                                                                               
Contract for                                     813                   0.00%   
Difference                                                                     

Total (A+B+C)                                                                  
                                                                               
Number of voting rights                 Percentage of voting rights            
                                                                               
5,713,715                               4.73%                                  

9. Chain of controlled undertakings through which the voting rights and /or the
financial instruments are effectively held, if applicable:                     
                                                                               
Total disclosable holding for JPMorgan Asset Management Holdings Inc: 5,713,715
(4.73%)                                                                        
                                                                               
JPMorgan Asset Management (UK) Limited : 5,706,683 (4.72%)                     
                                                                               
JPMorgan Asset management (Taiwan) Limited                                     

Proxy Voting:                                                                  
                                                                               
10. Name of proxy holder:                                                   N/A
                                                                               
11. Number of voting rights proxy                                           N/A
holder will cease to hold:                                                     
                                                                               
12. Date on which proxy holder will                                         N/A
cease to hold voting rights:                                                   

13. Additional information:                                                    
                                                                               
14 Contact name:                                                Kevin Wrightson
                                                                               
15. Contact telephone name:                                       0191 217 0717

For notes on how to complete form TR-1 please see the FSA website.