LTIS Operation

National Grid Transco PLC
24 May 2004

24 May 2004

National Grid Transco plc (NGT)

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Interests Notified by the Trustee for the
Lattice Group Long Term Incentive Scheme (the 'LTIS')

(Notification of Directors' Technical Interests,
Pursuant to Section 324(2) of the Companies Act 1985)

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NGT last Friday received a notification from Mourant & Co. Trustees, as Trustee
of the Lattice Group Employees Share Trust operated in conjunction with the
LTIS. Following the exercise, and disposal or transfer, of 21,482 shares by
participants on 20 and 21 May 2004, the following Executive Director of NGT,
Steve Lucas, together with other employees formerly with Lattice Group, have a
technical interest in the remaining balance of 371,972 NGT shares held by the
Trustee.

(Note: For Companies Act purposes, Steve Lucas is deemed to have a technical
interest in all the shares held by the LTIS Trustee, together with all
participating employees. The interest ceases when shares are transferred to
participants by the exercise of LTIS options.)

Contact: D C Forward, Assistant Secretary (020 7004 3226)




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