Early Redemption

Early Redemption 

    LONDON--(BUSINESS WIRE)--Feb. 20, 2003--

Please be advised that the following issue has been redeemed early;

ISIN: XS0094073672
Issuer: NATIONAL GRID TRANSCO
17 Feb 2003
Repurchase amount: GBP 3,000,000.00
New amount O/S: GBP 444,500,000.00

   Short Name: National GridTransco
   Category Code: MSC
   Sequence Number: 00002164
   Time of Receipt (offset from UTC): 20030220T164414+0000