ESOP Operation

National Grid Group PLC
19 March 2002


National Grid Group plc (National Grid)

19 March 2002

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National Grid 1996 EMPLOYEE BENEFIT TRUST (ESOP)

(Notification Of Directors' Interests, Pursuant to Section 324(2) of the
Companies Act 1985)

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National Grid today received a further notification from the ESOP Trustee; that
each of the Executive Directors of National Grid (E M Astle, S J Box, W E Davis,
S J Holliday, R P Sergel and R J Urwin) ceased to be technically interested in
1,176 NGG Ordinary shares on 18 March 2002, by virtue of the Trustee having
transferred the shares to participants.

(Note: For Companies Act purposes, the Executive Directors of National Grid are
deemed to have a technical interest in all the shares held by National Grid's
ESOP, together with all participating employees. The interest ceases when shares
are transferred to participants by the exercise of executive share options or
under another employees' share scheme.)

Contact: D C Forward, Assistant Secretary (020 7312 5860)



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