National Grid Company Plc



Re:  THE NATIONAL GRID COMPANY PLC
     GBP 50,000,000.00
     MATURING: 08-Jul-2032
     ISIN: XS0150038395

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
08-Jul-2008 TO 08-Jan-2009 HAS BEEN FIXED AT 3.49 PCT

DAY BASIS: 30/360

INTEREST PAYABLE VALUE 08-Jan-2009 WILL AMOUNT TO:
GBP 872,635.00 PER GBP 50,000,000.00 DENOMINATION
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