Introduction Circular Posted

National Grid Group PLC
10 December 2001

                           National Grid Group plc

         Documents relating to the introduction to the Official List
               of a new holding company, New National Grid plc
                   (to be renamed National Grid Group plc)

National Grid Group plc ('National Grid') has today published a circular to
its shareholders in connection with the introduction of a new holding company
for the group, New National Grid plc ('New National Grid') to be renamed
National Grid Group plc, which will be effected by means of a scheme of
arrangement under section 425 of the Companies Act 1985.

New National Grid has also today published listing particulars in relation to
the proposed admission to the Official List of the UK Listing Authority of up
to 2,000,000,000 ordinary shares in New National Grid to be issued pursuant to
the scheme of arrangement and to the acquisition of Niagara Mohawk Holdings,
Inc.

These documents have been submitted to and formally approved by the UK Listing
Authority and will be available for inspection at the UK Listing Authority's
Document Viewing Facility from 11 December. The Document Viewing Facility is
situated at:

Financial Services Authority

25 The North Colonnade

Canary Wharf

London E14 5HS

Tel no. [phone]

Each of these documents will also be made available on the National Grid
website; in the case of the circular at www.nationalgrid.com/uk/investors/
niagaramohawkSC.pdf and, in the case of the listing particulars at
www.nationalgrid.com/uk/investors/niagaramohawkLP.pdf.

ENQUIRIES:

National Grid:

Investors

Marcy Reed [phone] [phone](m)

Terry McCormick [phone] [phone](m)

Media

Susan Stevens [phone] [phone](m)

Clive Hawkins [phone] [phone](m)

Citigate Dewe Rogerson: [phone]

Anthony Carlisle [phone](m)