National Grid Electricity Transmission Plc


As Agent Bank, please be advised of the following rate determined on: 17-Oct-2007

Issue               : National Grid Electricity Transmission Plc - Series 24
                      GBP 50,000,000.00 RPI-Linked Fixed Rate Instrument FRN Due 23-Nov-2035
ISIN Number         : XS0236362470
Common Code/        : 23636247
144A ISIN
Issue Nomin     GBP : 50,000,000.00
Period              : 23-Nov-2007 to 23-May-2008          Payment Date 23-May-2008
Number of Days      : 182
Rate                : 1.98763
Denomination GBP    : 50,000.00                   50,000,000.00

Amount Payable
per Denomination    : 496.91            496,907.50

Bank of New York
Rate Fix Desk                           Telephone 44 1202 689580
Institutional Trust Services  Facsimille          44 1202 689601



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