Director/PDMR Shareholding

National Grid PLC
02 September 2005


National Grid plc (NG)

2 September 2005


QUALIFYING EMPLOYEE SHARE OWNERSHIP TRUST (Quest)
(Notification of Directors' Interests pursuant to Section 324(2)
of the Companies Act 1985)

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Yesterday, each of the following NG Executive Directors: E M Astle, S J
Holliday, S Lucas,  N P Winser and R J Urwin, technically ceased to be
interested in 276,228 NG Ordinary shares, by virtue of the Quest transferring
the shares to some 298 employees.

(Note: For Companies Act purposes, the Executive Directors named above are
deemed to have a technical interest in the shares held in NG's Quest, together
with all participating employees. The interest ceases when shares are
transferred to participants who exercise their Sharesave scheme options.)

One of NG's Directors, Mr E M Astle, was a participant to whom shares were
transferred from the Quest on exercising his Sharesave scheme option for 2,392
shares, on its three year maturity.

His total personal interest is unchanged.

Contact: Richard Eves, Assistant Secretary (0207 004 3225).


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