Disposal

National Grid Transco PLC
17 December 2002



National Grid Transco

Hutchison Network Services (UK)



For immediate release

17 December, 2002



                      Disposal of 186k fibre optic network



National Grid Transco plc ('NGT') and Hutchison Network Services UK Limited
('HNS'), a subsidiary of Hutchison Whampoa Limited, today announce that HNS is
to acquire the majority of the assets of the 186k fibre optic network business
previously owned by the former Lattice Group. NGT will receive a nominal sum for
the assets and pay a cash amount to be released from certain contractual
obligations.

NGT announced in its interim results on November 26 that it had fully written
down the former Lattice alternative telecoms network assets, including 186k. The
transactions are in line with NGT's policy of withdrawing from investments in
the altnet sector and will be completed by the end of this month within the
provisions already announced.

Enquiries:

National Grid Transco

Investors

Marcy Reed           [phone]           [phone](m)

Terry McCormick      [phone]           [phone](m)

Louise Clamp         [phone]           [phone](m)



Media

Jim Willison         [phone]

Gillian Home         [phone]

Clive Hawkins        [phone]

Duty Pager           [phone] (out of hours)



Hutchison Whampoa

Laura Cheung         [phone]

Nora Yong            [phone]







Notes to Editors

186k

186k, formed in 2000, owns a fibre optic network of approximately 1800 kms,
connecting 20 major centres of demand in the UK, including London, Bristol,
Birmingham, Manchester, Newcastle, Edinburgh and Glasgow. The network consists
of eight ducts. A cable with 48 fibre pairs has been installed in one duct. The
network became operational at the end of 2001.

National Grid Transco

National Grid Transco plc is a leading international energy delivery business.
It is the largest utility in the UK. Through National Grid, the group owns and
operates the electricity transmission network in England and Wales, and through
Transco, it owns and operates Britain's gas transportation network. National
Grid USA is one of the top ten electricity companies in the US, with the largest
electricity transmission and distribution network in the New England/New York
market. It also operates a gas distribution network in New York. Other
electricity interests include interconnectors in the UK, US and Australia and
joint venture transmission networks in Argentina and Zambia.



Hutchison Whampoa


Hutchison Whampoa Limited, one of the largest companies listed on the Hong Kong
Stock Exchange, is the holding company of the Hutchison Whampoa Group of
companies. With businesses spanning 41 countries, the Group's flagship companies
include Hutchison Port Holdings, Hutchison Telecom, Hutchison Whampoa
Properties, A. S. Watson, and Cheung Kong Infrastructure.


With over 150,000 employees worldwide, Hutchison operates and invests in five
core businesses: ports and related services; telecommunications; property and
hotels; retail and manufacturing; and energy and infrastructure.


                      This information is provided by RNS
            The company news service from the London Stock Exchange