Director Shareholding

National Grid Group PLC
21 June 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)
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National Grid yesterday received two further
notifications from the ESOP Trustee:

Each of the Executive Directors of National Grid
(S J Box, S J Holliday, R P Sergel and R J Urwin)
had ceased to be technically interested in 14,495 NGG
ordinary shares on 19 June 2001, by virtue of the Trustee
having transferred the shares to participants. 

The Directors have also become technically interested
in 785,335 NGG Ordinary shares on 20 June 2001, by 
virtue of the Trustee having acquired the shares and those
Directors being potential beneficiaries under the ESOP.

(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)