B Share Dividend

National Grid PLC
21 August 2007

National Grid plc
('National Grid', the 'Company')



B Share Dividend


National Grid announces that the dividend on its non-cumulative preference
shares of 10 pence each ('B Shares') in respect of the period 8 August 2007 to
17 September 2007 shall be 0.3 pence per B Share (such dividend being calculated
in accordance with the Company's articles of association).


The relevant record date for this B Share dividend shall be 31 August 2007 and
the ex-dividend date shall be 29 August 2007.


Documentation relating to the conversion of the B Shares into ordinary shares
(such conversion being in accordance with the rights and restrictions attached
to the B Shares as detailed in the Company's articles of association) has
recently been sent to all holders of B Shares.


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