Issue of Debt

National Grid PLC
18 September 2006

                              National Grid plc


                        EURO MEDIUM TERM NOTE PROGRAMME



National Grid plc announces that it has today issued Euro 750,000,000 Floating
Rate Instruments due 2012 Series No 41, as part of the National Grid plc and
National Grid Electricity Transmission plc Euro 12,000,000,000 Euro Medium Term
Note Programme.




18 September 2006



Contact:  Andrew Kluth (Tel: [phone])


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