Issue of Debt

National Grid PLC
25 September 2006


                               National Grid plc

                        EURO MEDIUM TERM NOTE PROGRAMME


National Grid plc announces that it has today issued Euro 300,000,000 Floating
Rate Instruments due 2009 Series No 42, as part of the National Grid plc and
National Grid Electricity Transmission plc Euro 12,000,000,000 Euro Medium Term
Note Programme.


25 September 2006


Contact

Media
Clive Hawkins            020 7004 3147

Investors
Andrew Kluth             020 7004 3365



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