Doc re Pricing Supplement

National Grid Transco PLC
05 August 2003

Pricing Supplement

Issuer:                           National Grid Transco plc
Series Number                      5
Description:                      Eur 500,000,000
Currency/ Principal Amount:       Euro
Issue Price:                      99.698 per cent
Specified Denomination            Eur1,000, Eur10,000 and Eur100,000
Issue Date:                       22 July 2003
Maturity Date:                    22 July 2008
ISIN:                             XSO172521949

     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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Financial Services Authority
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Tel. no. (0)20 7066 1000

(Documents will normally be available for inspection within six normal
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