Corporate Action

National Grid Group PLC
29 January 2002

SCHEME OF ARRANGEMENT
SECURITY TITLE
*Ord Shs 
MNEMONIC CODE           *NGG
SEDOL CODE              *242-824
TERMS                   *For each Existing Ordinary Share shareholders will 
                         receive 1 New National Grid Ordinary Share of 10p.
PROVISIONAL EFFECTIVE DATE  *31-01-02                                                  
RECORD DATE             *30-01-02
NOTES *


END




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