NATIONAL GRID GROUP PLC
7 October 1999
NEW YORK STOCK EXCHANGE LISTING
The National Grid Group plc ('National Grid') announces that trading
in its American Depositary Receipts ('ADRs') on the New York Stock
Exchange ('NYSE') commences today. The symbol under which National
Grid ADRs will be traded is NGG. One ADR represents the right to
receive five National Grid ordinary shares.
Holders of National Grid's existing ADRs can continue to hold them and
will be able to trade them on the New York Stock Exchange from 7
October. The Bank of New York will continue to act as ADR Depositary.
The NYSE listing demonstrates National Grid's commitment to the US
market, following its announcement on 14 December 1998, that subject
to obtaining the required approvals, National Grid would acquire all
the outstanding shares of New England Electric System ('NEES') for
approximately $3.2 billion. NEES is one of the leading Electricity
Utilities in the north-eastern United States. The acquisition is
expected to complete during the period November 1999 to January 2000.
Contact
National Grid Citigate Dewe Rogerson
Tel: +44 171 620 9191 Tel: +44 171 638 9571
Jill Sherratt, Investor Relations Anthony Carlisle
Steve Cronin, Investor Relations Duncan Murray
Diane Boddy, Investor Relations
Credit Suisse First Boston
Tel: +44 171 888 8888
Tom Reid
Andrew Fullerton
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