Director Shareholding

National Grid Group PLC
4 September 2001



National Grid Group plc (National Grid)
4 September 2001

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 Executive Directors of National Grid
(E M Astle, S J Box, S J Holliday, R P Sergel and R J Urwin)
technically ceased to be interested in 434,961 NGG Ordinary
shares; by virtue of the Quest transferring the shares to 
some 500 employees.

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

One of National Grid's Directors, S J Box, was a participant
to whom shares were transferred from the Quest on exercising his 
Sharesave scheme option for 3,125 shares. 
His total interest is unchanged.   

Contact: D C Forward, Assistant Secretary (0207 312 5860).