Further re Return of Cash

National Grid Transco PLC
26 July 2005

26th July 2005



                       National Grid Transco plc ('NGT')



                            Return of Cash Approved



Shareholders yesterday approved the necessary resolutions at NGT's Extraordinary
General Meeting to allow the Return of Cash to be carried out as planned.



A summary timetable of expected events is shown below:


                                                                                              2005
Record time and date for the Capital Reorganisation.                            5.00pm on 29 July
New Ordinary Shares and B Shares admitted to the Official List and admitted to  8.00am on 1 August
trading and dealings commenced and enabled in CREST.
Latest time for receipt of Election Forms and USE instructions from CREST       4.30pm on 5 August
holders in relation to the B Share Alternatives.
Despatch of New Ordinary Share certificates, retained B Share certificates,     22 August
sale advices, cheques in respect of the Single B Share Dividend and/or B Shares
purchased under the Initial Repurchase Offer, as appropriate and cheques for
fractional entitlements, and CREST accounts credited.



Capitalised terms are defined in the Circular to Shareholders.



In the United States, National Grid Transco plc has filed a Tender Offer
Statement on Schedule TO ('Schedule TO') containing the Circular to
Shareholders, a US Supplemental Memorandum, an Election Form and a Letter of
Election and Transmittal for shareholders and holders of American Depositary
Receipts, respectively, and other related documentation with the SEC.  Free
copies of the Schedule TO and the other related documents filed by National Grid
Transco plc in connection with the B Share Alternatives are available on the
SEC's website at http://www.sec.gov.


                      This information is provided by RNS
            The company news service from the London Stock Exchange