Penelope Ann Rachel, Lady Reed (4 August 1914 – 22 January 1982), known as Penelope Dudley-Ward, was an English actress.
Born Penelope Anne Rachel Dudley Ward in London, she was the elder daughter of William Dudley Ward and the leading socialite Freda Dudley Ward, best remembered for being the long-time mistress of the Prince of Wales, the future King Edward VIII. She was a leading lady in several British films during the 1930s and 1940s.
She announced her retirement from the screen following her second marriage. She was twice married. Her first marriage, to Anthony Pelissier, lasted from 29 December 1939, until their divorce in 1944; the couple had one daughter, the actress Tracy Reed.
Dudley-Ward married film director Carol Reed on 24 January 1948. They had one son, Max Reed, born 14 September 1948. Dudley-Ward and Reed remained married until he died in 1976. Lady Reed died from a brain tumour in January 1982 at the age of 67. She was survived by her mother, her younger sister Claire and her children.
- Escape Me Never (1935)
- Moscow Nights (1935)
- The Citadel (1938)
- Hell's Cargo (1939)
- Dangerous Comment (1940, short)
- The Case of the Frightened Lady (1940)
- Convoy (1940)
- Major Barbara (1941)
- In Which We Serve (1942)
- The Demi-Paradise (1943)
- English Without Tears (1944)
- The Way Ahead (1944)