Listing Paticulars

National Grid Transco PLC
23 December 2002


FORMAL NOTICE FOR SPECIALIST SECURITIES

PUBLICATION DATE:             23 December 2002


Application has been made to the UK Listing Authority for the following 
securities to be admitted to the Official List.

DETAILS OF ISSUE:           EUR 4,000,000,000 Euro Medium Term Note Programme

ISSUER:                     National Grid Transco plc
                            1-3 Strand
                            London WC2N 5EH
                            National Grid Company plc
                            1-3 Strand
                            London WC2N 5EH

INCORPORATED IN:            England

AUTHORISED ADVISER:         HSBC Bank plc


Particulars relating to the issue may be obtained during usual business hours 
for fourteen days from the date of this formal notice from:

National Grid Transco plc                  National Grid Company plc              National Grid Company plc
1-3 Strand                                 1-3 Strand                             1-3 Strand
London WC2N 5EH                            London WC2N 5EH                        London WC2N 5EH

In addition, a copy of the Particulars is available for inspection at the
Document Viewing Facility at the Financial Services Authority, 25 The North
Colonnade, London E14 5HS.

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