Medium Term Note Programme

National Grid Transco PLC
28 July 2004

                           National Grid Transco plc

                        EURO MEDIUM TERM NOTE PROGRAMME

National Grid Transco plc announces that it has today issued EUR 200,000,000
Floating Rate Instruments due July 2005 Series No 11 Tranche No 1, as part of
its EUR 6,000,000,000 Euro Medium Term Note Programme.

28 July 2004


Enquiries:

Andrew Kluth [phone]


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