Niagara Mohawk Power Corporation Declares Preferred Stock Dividends

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Thu Oct 23, 2008 7:30am EDT 

SYRACUSE, N.Y.--(Business Wire)--
Niagara Mohawk Power Corp., a subsidiary of National Grid plc
(NYSE: NGG), announced that its Board of Directors has declared
dividends at the following rates for all series of its preferred
stock.

   .85% of $100 par value on the 3.40% Series

   .90% of $100 par value on the 3.60% Series

   .975% of $100 par value on the 3.90% Series

   Preferred stock dividends are payable December 31, 2008, to
holders of record December 8, 2008.

   Niagara Mohawk Power Corp., doing business as National Grid,
provides electricity service to approximately 1.5 million customers
and natural gas service to approximately 565,000 customers in upstate
New York. The company is based in Syracuse, N.Y. Its parent company
also has electricity and gas distribution operations in New England.

Niagara Mohawk Power Corp.
Patrick Stella, 518-433-3838

Copyright Business Wire 2008
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