Director Shareholding

National Grid Transco PLC
24 May 2005



24 May 2005


National Grid Transco plc ('NGT')

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National Grid 1996 Employee Benefit Trust (ESOP)

(Notification of Directors' Interests, pursuant to Section 324(2) of The
Companies Act 1985)


Directors' Interests- Dr R J Urwin

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NGT today received a further notification from the ESOP Trustee; that certain
Executive Directors of NGT

(E Astle, S Holliday, R Urwin and N Winser) ceased to be technically interested
in a total of 17,425 NGT Ordinary shares, by virtue of the Trustee having
transferred the shares to a participant on 24 May 2005.

(Note: For Companies Act purposes, these Executive Directors of NGT are deemed
to have a technical interest in all the shares held by the 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.)

One of NGT's Directors, Dr R J Urwin, was the participant involved. The 17,425
shares were transferred to him on exercising the Sharematch awards granted under
the National Grid Share Matching Scheme operations in 1998, 1999, 2000 and 2001.

His total personal interest in NGT shares is unchanged, as he retained the
shares.


Contact: D C Forward, Assistant Secretary (0207 004 3226)


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