Director Shareholding

National Grid Transco PLC
30 June 2005

30th June 2005

National Grid Transco plc (National Grid Transco)

Notification of Changes in Directors' Interests

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Performance Share Plan

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On 28 June 2005, the following directors were granted an award of shares under
the National Grid Transco Performance Share Plan, calculated by reference to a
share price of 527.0256p. The extent to which awards will vest will depend upon
the company's performance against the relevant conditions. Subject to
performance, the shares will vest in June 2008 and will be transferred to
participants net of deductions on 28 June 2009.

            Director                             Number of shares

1.        Mr E M Astle                                     94,872
2.        Mr S J Holliday                                 100,801
3.        Mr S C B Lucas                                   99,615
4.        Mr M Jesanis                                    108,170 (21,634 ADSs)
5.        Dr R J Urwin                                    181,442
6.        Mr N P Winser                                    91,314

The total share interests of the above directors, following these changes, are:

Director                                         Number of shares

1.        Mr E M Astle                                    863,311
2.        Mr S J Holliday                                 563,152
3.        Mr S C B Lucas                                  629,182
4.        Mr M Jesanis                                    448,662
5.        Dr R J Urwin                                  1,535,519
6.        Mr N P Winser                                   496,937


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