Holding(s) in Company

National Grid PLC
01 December 2005

1st December 2005
National Grid plc (NG)

Notification of Interest in NG Ordinary Shares,
Pursuant to Section 198 of The Companies Act 1985

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NG yesterday received a notification from Morgan Stanley Securities Limited;
that a disposal reduced its total interest to 3.71% (100,559,344 shares) at 23
November 2005 (formerly 4.09%, at 7 November 2005). Included in this
notification are 99,424,401 shares in which the interest is pursuant to Section
208(5) of the Companies Act; in respect of the transfer to a third party on
terms giving the right to require return of an equivalent number of shares.


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