Doc re. Pricing Supplement

National Grid Transco PLC
03 September 2003

Pricing Supplement

Issuer:                           National Grid Transco plc
Series Number                     7
Description:                      JPY2,000,000,000
Currency/ Principal Amount:       Japanese Yen
Issue Price:                      100 per cent
Specified Denomination            JPY100,000,000
Issue Date:                       4 September 2003
Maturity Date:                    7 February 2005
ISIN:                             XSO175512564

     A copy of the above document has been submitted to the UK Listing Authority
      and will shortly be available for inspection at the UK Listing Authority's
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