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.