REG-National Grid Gas PLC FRN Variable Rate Fix

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Tue May 20, 2008 9:37am EDT 

LONDON--(Business Wire)--

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As Agent Bank, please be advised of the following rate determined on: 16-May-2008

Issue               : National Grid Gas plc - Series 40
                      GBP 115,000,000.00 FRN Due 28 Jun 20046
ISIN Number         : XS0258589646
Common Code/        : 25858964
144A ISIN
Issue Nomin     GBP : 115,000,000.00
Period              : 28-Jun-2008 to 28-Dec-2008          Payment Date 29-Dec-2008
Number of Days      : 183
Rate                : 1.91504
Denomination GBP    : 50,000.00         115,000,000.00

Amount Payable
per Denomination    : 478.76            1,101,148.00

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

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