Euro MTN Programme

National Grid Transco PLC
10 March 2005

                           National Grid Transco plc


                        EURO MEDIUM TERM NOTE PROGRAMME




National Grid Transco plc announces that it has today issued EUR 500,000,000
4.375% Fixed Rate Instruments due 10 March 2020 Series No 14, as part of the
National Grid Transco plc and National Grid Company plc EUR 6,000,000,000 Euro
Medium Term Note Programme.



10 March 2005



Contact: Andrew Kluth (Tel: [phone])


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