Director Shareholding

National Grid Group PLC
23 January 2001


National Grid Group plc (National Grid)

National Grid 1996 EMPLOYEE BENEFIT TRUST (ESOP)
(Notification Of Directors' Interests pursuant to
Section 324(2) of the Companies Act 1985)
---------------------------------------------------------

National Grid yesterday received a further notification 
from the ESOP Trustee; that on 18 January 2001
each of the Executive Directors of National Grid
(S J Box, D H Jones, R P Sergel and R J Urwin)
had ceased to be technically interested
in 327,321 NGG Ordinary shares, by virtue of
the shares having been appropriated to group staff
under the National Grid Profit Sharing Scheme.

(Note: For Companies Act purposes, the Executive
Directors of National Grid are deemed to have a
technical interest in all the shares held by 
National Grids' ESOP, together with all participating
employees. The interest ceases when shares are transferred
to participants by the exercise of executive share
options or under another employees' share scheme.)

Contact: D C Forward, Assistant Secretary (020 7312 5860)