Fthr re Niagara Mohawk

National Grid Group PLC
12 December 2000



        National Grid Group plc (National Grid)

        Niagara Mohawk announces the sale of its nuclear assets

        National Grid notes today the announcement by Niagara Mohawk Power
        Corp that it has agreed the sale of its nuclear assets to
        Constellation Nuclear in a deal valued at $1.04 billion and is
        targeting completion of the transaction in mid 2001. If completed, the
        sale will satisfy a condition of our merger agreement with Niagara
        Mohawk, announced in September.

        Contact


        National Grid

        UK Chris Everett           [phone]

        US Karen Shih              [phone]


        Niagara Mohawk

        US Leon Mazur              [phone]


        Conference call

        Niagara will host a conference call today at 10 am EST (5 pm GMT). To
        join the call please dial + 800 370 0906 and a replay will be
        available for one week on [phone].