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National Grid Electricity Transmission Plc


As Agent Bank, please be advised of the following rate determined on: 19-Mar-2007

Issue               : National Grid Electricity Transmission Plc - Series 28
                      GBP 50,000,000.00 UKRPI Linked Instruments Due 07 Apr 2036
ISIN Number         : XS0250104774
Common Code/        : 25010477
144A ISIN
Issue Nomin     GBP : 50,000,000.00
Period              : 10-Apr-2007 to 08-Oct-2007          Payment Date 08-Oct-2007
Number of Days      : 181
Rate                : 1.75296
Denomination GBP    : 50,000.00         50,000,000.00

Amount Payable
per Denomination    : 438.24            438,240.00

JPMorgan Chase Bank
Rate Fix Desk                           Telephone 44 (0) 1202 32 8226
Institutional Trust Services           Facsimille 44 (0) 1202 34 7939

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