National Grid Electricity Transmission Plc



As Agent Bank, please be advised of the following rate determined on: 17-Mar-2008
Issue              � National Grid Electricity Transmission Plc - Series 27
                     GBP 200,000,000.00 RPI - Linked Instruments FRN Due 03 Apr 2008
ISIN Number        � XS0248040544
Common Code / 144A � 248040544
 ISIN
Issue Nomin GBP    � 200,000,000.00
Period             � 03-Apr-2008 to 03-Oct-2008            Payment Date 03-Oct-2008
Number of Days     � 183
Rate               � 1.80546
Denomination GBP   � 50,000.00             � 200,000,000.00       �

Amount Payable per � 451.37                � 1,805,460.00         �
 Denomination

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