Sharesave Exercise

National Grid PLC
13 March 2006

National Grid plc (NG)

13 March 2006



Notification of Directors' Interests pursuant to Section 324(2)

of the Companies Act 1985



(Employee Sharesave Scheme Maturity)

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Today, some 400 NG employees exercised Sharesave Scheme options granted in
December 2002, at 350p per share, following the three year maturity under the
scheme.

One of NG's Directors, Steve Lucas, was a participant to whom shares were
allotted on exercising his Sharesave scheme option for 2,700 shares; which he
has retained leaving his total personal interest unchanged.



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






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