Press speculation

National Grid PLC
24 February 2006



NATIONAL GRID PLC


24 February 2006

Discussions with Keyspan Corporation


National Grid plc ('National Grid') has noted the recent press speculation
regarding discussions between National Grid and KeySpan Corporation ('KeySpan').
The Directors of National Grid confirm that they are in discussions concerning
a potential transaction with KeySpan but emphasise that these discussions are
yet to be concluded and that there is no certainty that they will lead to any
definitive agreement.  If agreed, any transaction would be on an all cash basis,
satisfied wholly from borrowings.


A further announcement will be made as appropriate.


CONTACT DETAILS


National Grid:

Investors
David Campbell               [phone]          [phone](m)
Richard Smith                [phone]          [phone](m)
James Waite                  [phone]          [phone](m)

Media
Clive Hawkins                [phone]          [phone](m)

Citigate Dewe Rogerson       [phone]
Anthony Carlisle             [phone](m)






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