LTIS Operation

National Grid Transco PLC
25 January 2005

25 January 2005

National Grid Transco plc (NGT)

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Interests Notified by the Trustee for the
Lattice Group Long Term Incentive Scheme (the 'LTIS')

(Notification of Directors' Technical Interests,
Pursuant to Section 324(2) of the Companies Act 1985)

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NGT received a notification today from Mourant & Co. Trustees, as Trustee of the
Lattice Group Employees Share Trust operated in conjunction with the LTIS.
Following the exercise, and disposal or transfer, of 12,012 shares by
participants on 24 January 2005, the following Executive Director of NGT, Steve
Lucas, together with other employees formerly with Lattice Group, have a
technical interest in the remaining balance of 123,749 NGT shares held by the
Trustee.

(Note: For Companies Act purposes, Steve Lucas is deemed to have a technical
interest in all the shares held by the LTIS Trustee, together with all
participating employees. The interest ceases when shares are transferred to
participants by the exercise of LTIS options.)

Contact: D C Forward, Assistant Secretary (0207 004 3226)




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