Directors' Interests (LTIS)

National Grid Transco PLC
15 December 2003

15 December 2003

National Grid Transco plc (NGT)

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Interests Notified by the Trustee for the

Lattice Group Long Term Incentive Scheme (the 'LTIS')

(Notification of Directors' Technical Interests,

Pursuant to Section 324(2) of the Companies Act 1985)

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NGT has received a notification, on Friday 12th December, from Mourant & Co.
Trustees as Trustee of the Lattice Group Employees Share Trust operated in
conjunction with the LTIS. Following the exercise, and disposal or transfer, of
329,529 shares by participants on 12 December 2003, the following Executive
Director of NGT, Steve Lucas, together with other employees formerly with
Lattice Group, have a technical interest in the remaining balance of 484,367 NGT
shares held by the Trustee.

(Note: For Companies Act purposes, Steve Lucas is deemed to have a technical
interest in all the shares held by the LTIS Trustee, together with all
participating employees. The interest ceases when shares are transferred to
participants by the exercise of LTIS options.)

Contact: D C Forward, Assistant Secretary (020 7004 3226)




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