Director Shareholding

National Grid Group PLC
23 March 2001


QUALIFYING EMPLOYEE SHARE OWNERSHIP TRUST (Quest)
(Notification Of Directors' Interests pursuant to
Section 324(2) of The Companies Act 1985)
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Yesterday, each of the Executive Directors of National Grid
(S J Box, D H Jones, R P Sergel and R J Urwin)
technically became interested in 379,867 NGG Ordinary shares,
by virtue of the Quest being allotted the shares and those
Directors being potential beneficiaries under the Quest.
Today, those Directors technically ceased to be interested
in 89,423 NGG Ordinary shares by virtue of the Quest transferring
the shares to employees.

(Note: For Companies Act purposes, the Executive
Directors of National Grid are deemed to have a technical
interest in the shares held in National Grid's Quest, 
together with all participating employees. The interest
ceases when shares are transferred to participants who
exercise their Sharesave scheme options.)

Contact: D C Forward, Assistant Secretary (0207 312 5860).