Analysts Visit, etc.

NATIONAL GRID GROUP PLC
5 October 1999

The National Grid Group plc (NGG)

NATIONAL GRID'S VISIT FOR ANALYSTS TO NEES AND PRE-CLOSE
PERIOD UPDATE

The National Grid Group plc ('National Grid') will be
hosting a two-day visit to New England Electric System
('NEES') for fund managers and analysts starting on the
afternoon of 4 October.  This coincides with the start of
the close period in the run up to the interim results for
the half-year ended 30 September 1999.This announcement
includes both the pre-close briefing and the main news
covered on the NEES visit.

Pre-close briefing for period ended 30 September 1999

As previously indicated, transmission network use of
system charges have been set this year to recover
previous years' under-recoveries.  We therefore expect
price controlled revenue for the half-year to be about
£20m up on the same period last year.

We expect revenues from Interconnectors to be around
£45m.  The  improvement is due to higher transfers from
France, which have returned to a level of 7.3TWh
following last year's reduced transfers over the summer,
and the higher level of LOLP (capacity payments)
experienced in the first half of the year.

We expect basic earnings per share for the first-half to
be around 7% higher than for the same period last year.

Information being covered on the NEES visit

The cost savings from the integration of NEES and EUA are
now expected to be $40m per annum following completion of
the integration, up from the $25m estimated at the time
of announcement.

As previously reported, the effective tax rate for the
existing group for the 1999/00 financial year is expected
to be 26%. The effective tax rate of the enlarged group
is expected to remain at this level following the
completion of the NEES and EUA acquisitions.

We previously announced that the US acquisitions will
enhance National Grid's earnings per share before the
amortisation of goodwill and enhance cashflow per share
immediately following the acquisition. We now expect that
the acquisitions will be earnings per share neutral after
goodwill amortisation in the first full year and enhance
earnings per share after goodwill amortisation
thereafter.

NEES is in the advanced stages of negotiating a long-
term, incentive-based rates settlement for Massachusetts
which would take effect when the NEES/EUA merger is
completed. Any agreement is subject to approval by the
Massachusetts Department of Telecommunications and
Energy.

US Listing

The listing of our ADRs on the New York Stock Exchange is
scheduled for Thursday 7 October 1999.

Contact

National Grid  :
Jill Sherratt, Investor Relations Manager
Steve Cronin
          USA  Mobile         [phone]
               c/o NEES       1 508 389 2720
          UK   Messages       44 171 620 9191

Citigate Dewe Rogerson
Tony Carlisle                 44 171 638 9571
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