Director Shareholding

National Grid Group PLC
19 December 2001


National Grid 1996 EMPLOYEE BENEFIT TRUST (ESOP)

(Notification Of Directors' Interests pursuant

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

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National Grid yesterday received a further notification from the

ESOP Trustee; that each of the Executive Directors of National Grid

(E M Astle, S J Box, S J Holliday, R P Sergel and R J Urwin)

had ceased to be technically interested in 100,000

NGG Ordinary shares on 17 December 2001, by virtue

of the Trustee having transferred the shares to participants.



(Note: For Companies Act purposes, the Executive Directors

of National Grid are deemed to have a technical interest

in all the shares held by National Grid's ESOP, together

with all participating employees. The interest ceases

when shares are transferred to participants by the

exercise of executive share options or under another

employees' share scheme.)


Contact: D C Forward, Assistant Secretary (020 7312 5860)