Director Shareholding

National Grid Transco PLC
28 January 2005


28 January 2005

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' Interests,

Pursuant to Section 324(2) of the Companies Act 1985)

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NGT today received a notification from Mourant & Co. Trustees, as Trustee of the
Lattice Group Employees Share Trust operated in conjunction with the LTIS.

On 27 January 2005, a total of 3,050 shares were acquired, at a price of 509.25p
per share, for various participants as reinvestment of their January 2005 NGT
interim dividend of 8.5p per share. The following Executive Director of NGT,
Steve Lucas, together with other employees formerly with Lattice Group, has a
technical interest in the current balance of 123,749 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.)

Steve Lucas was also amongst those having their dividends reinvested on shares
held in the LTIS. His personal interest in the 2001 LTIS award changed as
follows:


Director      Existing 2001   Additional shares   Revised 2001   Total NGT Share 
              LTIS Award      from dividend       LTIS Total     Interest after event
                              Reinvestment 
                              (27 Jan 2005 at 
                              509.25p)

Steve Lucas   96,589          1,612               98,201         506,156


Contact: D C Forward, Assistant Secretary (0207 004 3226)


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