Northeast Utilities Withdraws Motion

National Grid Group PLC 1 November 1999 NATIONAL GRID AND NEES REACH AGREEMENT WITH NORTHEAST UTILITIES ON NRC ISSUES RELATED TO NEES/NATIONAL GRID MERGER Northeast Utilities Withdraws Motion for Intervention and Hearing in Merger The National Grid Group plc (National Grid), and Northeast Utilities today notified the Nuclear Regulatory Commission (NRC) that they had reached an agreement in principle on issues of foreign ownership and financial qualifications regarding National Grid's proposed acquisition of New England Electric System (NEES). As part of this agreement, Northeast Utilities subsidiaries Connecticut Light and Power, Western Massachusetts Electric Company and North Atlantic Energy Corporation have agreed to withdraw their petitions for intervention and hearing. Once the NRC grants the withdrawal and dismisses the hearing, NEES and National Grid anticipate that the remaining regulatory approvals needed from the NRC and the Securities and Exchange Commission will be obtained in a time frame that will allow the merger to be completed by early 2000. The merger already has received approval or endorsement from the Federal Energy Regulatory Commission, the Department of Justice/Federal Trade Commission, the Committee on Foreign Investment, and state regulatory agencies in Massachusetts, Rhode Island, New Hampshire, Connecticut and Vermont. Contact Jill Sherratt, Investor Relations 44 171 620 9191 Diane Boddy, Investor Relations Tony Carlisle, Citigate Dewe Rogerson 44 171 638 9571 Sue Pemberton, Citigate Dewe Rogerson Duncan Murray, Citigate Dewe Rogerson
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