Dividend Declaration

National Grid PLC
03 July 2006

3 July 2006



National Grid plc



B Share Dividend



National Grid announces that the dividend on its non-cumulative preference
shares of 10 pence each (B Shares) in respect of the period 8 August 2005 to 7
August 2006 shall be 2.2 pence per B Share (such dividend being calculated in
accordance with the Company's articles of association).



As approved by the Board, the relevant record date for this B Share dividend
shall be 21 July 2006 and the ex-dividend date shall be 19 July 2006.



Documentation relating to a further repurchase offer for B Shares has recently
been sent to all holders of B Shares.


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