Director Shareholding

National Grid Group PLC
26 March 2001


National Grid Group plc (National Grid)


National Grid 1996 EMPLOYEE BENEFIT TRUST (ESOP)
(Notification Of Directors' Interests pursuant to
Section 324(2) of the Companies Act 1985)
---------------------------------------------------------

National Grid today received a further notification 
from the ESOP Trustee; that each of the Executive Directors
of National Grid (S J Box, D H Jones, R P Sergel and R J Urwin)
had ceased to be technically interested in 4,099 NGG Ordinary
shares, by virtue of the Trustee having transferred the shares 
to a participant on Friday 23 March 2001.

(Note: For Companies Act purposes, the Executive Directors
of National Grid are deemed to have a technical interest in
all the shares held by National Grids' ESOP, together with
all participating employees. The interest ceases when shares
are transferred to participants by the exercise of executive
share options or under another employees' share scheme.)

Contact: D C Forward, Assistant Secretary (020 7312 5860)