Listing of New Ord&B Shares

National Grid PLC
01 August 2005



                                                                   1 August 2005
                               National Grid plc
                  Listing of New Ordinary Shares and B Shares

The Board of National Grid plc is pleased to announce that the Return of Cash to
Shareholders is now being implemented and it is expected that New Ordinary
Shares and B Shares in National Grid plc will be admitted to the Official List
maintained by the Financial Services Authority and will commence trading at 8.00
a.m. today. Further details of the Return of Cash are contained in the Circular
to Shareholders dated 6 June 2005.

On admission, a total of 2,712,727,627 New Ordinary Shares of 11 17/43 pence
each and 3,091,247,761 B Shares of 10 pence each will be in issue.

Application has also been made to the Financial Services Authority and the
London Stock Exchange for block listings totalling 11,074,689 New Ordinary
Shares of 11 17/43 pence each to trade on the London Stock Exchange and to be
admitted to the Official List upon issuance.

The block listings consist of 11,037,301 shares to be issued under the Employee
Share Scheme and 37,388 shares to be issued under the conversion of 4.25%
Exchangeable Bond 2008.


Enquiries:

National Grid plc

Investors
Alexandra Lewis                                  [phone]
David Campbell                                   [phone]

Media
Stewart Larque                                   [phone]


JPMorgan Cazenove, Broker to National Grid
Jonathan Wilcox                                  [phone]
Matthew Lawrence                                 [phone]


Citigate Dewe Rogerson, PR Advisers to National Grid
Anthony Carlisle                                 [phone]


Additional Information:
In the United States, National Grid plc has filed a Tender Offer Statement on
Schedule TO (the 'Schedule TO') containing the Circular to Shareholders, a US
Supplemental Memorandum, an Election Form and a Letter of Election and
Transmittal for shareholders and holders of American Depositary Receipts,
respectively, and other related documentation with the SEC. Free copies of the
Schedule TO and the other related documents filed by National Grid plc in
connection with the B Share Alternatives are available on the SEC's website at
http://www.sec.gov.




                      This information is provided by RNS
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