National Grid Gas plc



As Agent Bank, please be advised of the following rate determined on: 15-Oct-2008
Issue              � National Grid Gas plc - Series 50
                     GBP 50,000,000.00 Index Linked FRN Due 01-May-2037
ISIN Number        � XS0289189093
Common Code / 144A � 28918909
 ISIN
Issue Nomin GBP    � 50,000,000.00
Period             � 03-Nov-2008 to 01-May-2009            Payment Date 01-May-2009
Number of Days     � 179
Rate               � 2.082556776
Denomination GBP   � 50,000.00             � 50,000,000.00        �

Amount Payable per � 520.64                � 520,639.19           �
 Denomination

Bank of New York
Rate Fix Desk                              Telephone       � 44 1202 689580
Corporate Trust Services                   Facsimile       � 44 1202 689601



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