Trading Update

Bellway PLC
1 February 2002

                                 BELLWAY p.l.c.

                                 TRADING UPDATE

                         AND FORTHCOMING BOARD CHANGES


Prior to entering the close period relating to the interim announcement on 10
April 2002, Bellway, 'the local, national housebuilder', wishes to update
investors on trading and forthcoming Board changes.


The Board anticipates that the Group's financial performance for the six months
to 31 January 2002 will be in line with its expectations. Sales will be at a
similar level to the same period last year and the operating margin has
improved.


We are pleased to report market conditions continue to be encouraging throughout
our areas of operation and reservations are ahead of last year. In view of this
the Board anticipates that the results for the financial year to 31 July 2002,
could now exceed its earlier expectations. We have secured a number of
development sites at advantageous prices to enhance the Group's growth plans.


Mr Alan G Robson, the Finance Director, will be retiring from the Board at the
end of the current financial year and we are greatly indebted to him for his
significant contribution to the Group's success over the past eighteen years.
His successor on the Board, as Finance Director, will be Mr Alistair M Leitch.
He is a chartered accountant, who joined Bellway in 1981 and has held a number
of senior financial roles within the Group including, for the last six years,
that of Chief Accountant.




END



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