EGM Statement

National Grid Group PLC
29 January 2001

Monday 29 January 2001


National Grid shareholders approve acquisition of Niagara Mohawk


The shareholders of National Grid Group plc (National Grid) today
overwhelmingly approved its proposed acquisition of Niagara Mohawk Holdings
Inc (Niagara Mohawk) at an Extraordinary General Meeting, with more than 99
per cent of votes in favour. National Grid and Niagara Mohawk announced on 5
September 2000 that they had signed a Merger Agreement under which National
Grid will acquire all the outstanding shares of Niagara Mohawk. Niagara Mohawk
shareholders overwhelmingly approved the acquisition on 19 January 2001.

Commenting on the result of the EGM, James Ross, Chairman of National Grid
said:


        'We are delighted that shareholders have endorsed the acquisition of
        Niagara Mohawk which is a major step in National Grid's strategy for
        delivering value in the US. The shareholder approvals are an important
        milestone towards completion which we expect in late 2001.'



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