KeySpan Acquisition Update

National Grid PLC
22 August 2007


22 August 2007


                               National Grid plc

                 UPDATE ON NATIONAL GRID ACQUISITION OF KEYSPAN


National Grid announces that the New York State Public Service Commission
(NYPSC) has today unanimously voted to approve the acquisition of KeySpan.


This follows the settlement in principle previously announced on 9 July 2007 and
is the final step in the thorough review process the merger has received by the
Public Service Commission and staff for over a year.


During the session, the Commission set out additional conditions for the
acquisition on which their approval is based. These relate to financial
ring-fencing for customers, service quality and details around the required sale
of Ravenswood. A written order is expected on Thursday 23 August. On receipt,
National Grid will consider these conditions and, if acceptable, will move
swiftly towards completion of the transaction.







Contacts


National Grid:


Investors

David Rees     [phone]     [phone] (m)

Richard Smith  [phone]     [phone] (m)

James Waite    [phone]     [phone] (m)


Media

Clive Hawkins  [phone]     [phone] (m)



Brunswick:

Paul Scott     [phone]     [phone](m)



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