Director Shareholding

National Grid Transco PLC
21 November 2003



21 November 2003



National Grid Transco plc (NGT)

Directors' Interests



On the merger of National Grid and Lattice Group, and as previously notified,
Steve Lucas, as a participant in the 1999 Lattice Long Term Incentive Plan
(LTIS) operation, was granted a rollover option in NGT ordinary shares at a
nominal cost of £1 in total, with statutory deductions also due for payment on
exercise.

The Trustees of the Lattice Group Employees Share Trust today notified NGT that
Steve Lucas has exercised this LTIS option, over a total of 32,541 NGT shares.
On exercise, yesterday, the Trustee sold 13,369 of the shares in the market at
396.75p per share to meet the payment due. Steve Lucas retains the balance of
19,172 NGT shares. His total interest in NGT is now 392,225 shares.


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