Director Shareholding

Bellway PLC
03 June 2003

                                  BELLWAY PLC


                            DIRECTORS' SHAREHOLDINGS


                                 3RD JUNE 2003


The company was yesterday informed that under the terms of the Bellway plc
(1996) Employee Share Option Scheme Mr H C Dawe, a director of the company,
yesterday exercised his option to purchase 120,000 Bellway plc 12.5p ordinary
shares as follows:

    No of shares                                             Price per share
         120,000                                                      361.10


Immediately thereafter Mr Dawe sold 108,000 shares at a price of 576p 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          %
              82,352               0.07                  70,352       0.06


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

        No of shares                                    Previous
             300,543                                     420,543


The other interests of the directors remain unchanged.


Ends


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