National Grid Transco Redemption of Special Share in NGT

05/05/2004

National Grid Transco welcomes today's announcement from the UK Government that it plans to redeem the Special Share in National Grid Transco.



Following redemption NGT will cancel the Special Share and amend its Articles of Association accordingly.

The Special Share was put in place at privatisation and it is the view of the UK Government and NGT that developments in the regulatory and competition frameworks mean that it is no longer required.

Contacts

Investors  
Marcy Reed +44 (0)20 7004 3170 +44 (0)7768 490807(m)
Terry McCormick +44 (0)20 7004 3171 +44 (0)7768 045139(m)
Louise Clamp +44 (0)20 7004 3172 +44 (0)7768 555641(m)

Media  
Clive Hawkins +44 (0)20 7004 3147 +44 (0)7836 357173(m)

Citigate Dewe Rogerson +44 (0)20 7638 9571  
Anthony Carlisle +44 (0)7973 611888(m)