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BOWNE INTEGRATED TYPESETTING SYSTEM

CRC: 38258

Name: NATIONAL GRID

Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: (212)924-5500Site: BOWNE OF NEW YORK

Y59930.SUB, DocName: EX-2.B.6.1, Doc: 6, Page: 46

Description: EXH 2(B).6.1

0/2650.00.00.00Y59930BNY

[E/O] EDGAR 2 *Y59930/650/2*

BOWNE INTEGRATED TYPESETTING SYSTEM

CRC: 38258

Name: NATIONAL GRID

Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: (212)924-5500Site: BOWNE OF NEW YORK

Y59930.SUB, DocName: EX-2.B.6.1, Doc: 6, Page: 46

Description: EXH 2(B).6.1

0/2650.00.00.00Y59930BNY

[E/O] EDGAR 2 *Y59930/650/2*

document may comprise any form of statement or print out of electronic records provided by the relevant clearin

system

(including Euroclear’s EUCLID or Clearstream, Luxembourg’s Cedcom system) in accordance with its usual procedures and in

which the holder of a particular principal amount of any other clearin

system is clearly identified to

ether with the amount of

such holdin

. The Trustee shall not be liable to any person by reason of havin

accepted as valid or not havin

rejected any

certificate or other document to such effect purportin

to be issued by Euroclear, Clearstream, Luxembour

or any other

clearing system and subsequently found to be forged or not authentic.

Exchange

1 Temporary Global Instruments

Each temporary Global Instrument will be exchangeable, free of charge to the holder, on or after its Exchange Date:

1.1 if the relevant Final Terms indicates that such Global Instrument is issued in compliance with the C Rules or in a

transaction to which TEFRA is not applicable (as to which, see “Summary of the Programme — Selling Restrictions”), in

whole, but not in

art, for the Definitive Instruments defined and described below; and

1.2 otherwise, in whole or in part upon certification as to non-U.S. beneficial ownership in the form set out in the A

ency

reement for interests in a permanent Global Instrument or, if so provided in the relevant Final Terms, for Definitive

Instruments.

2 Permanent Global Instruments

Each permanent Global Instrument will be exchan

eable, free of char

e to the holder, on or after its Exchan

e Date in whole

but not, except as provided under “Partial Exchange of Permanent Global Instruments”, in part for Definitive Instruments (i) if

the holder of an Instrument

ives notice to the Issuin

and Payin

ent of its election for such exchan

e and (ii) otherwise, if

the permanent Global Instrument is held on behalf of Euroclear or Clearstream, Luxembour

or any other clearin

system (an

“Alternative Clearing System”) and any such clearin

system is closed for business for a continuous period of 14 days (other

than b

reason of holida

s, statutor

or otherwise

)

or announces an intention

ermanentl

to cease business or in fact does so.

3 Partial Exchange of Permanent Global Instruments

For so lon

as a permanent Global Instrument is held on behalf of a clearin

system and the rules of that clearin

system

permit, such permanent Global Instrument will be exchan

eable in part on one or more occasions for Definitive Instruments

(a) if principal in respect of any Instruments is not paid when due or (b) if so provided in, and in accordance with, the Conditions

(which will be set out in the relevant Final Terms) relating to Partly Paid Instruments.

4 Deliver

of Instruments

If the Global Instrument is a CGN, on or after any due date for exchan

e the holder of a Global Instrument may surrender such

Global Instrument or, in the case of a partial exchan

e, present it for endorsement to or to the order of the Issuin

and Payin

ent. In exchan

e for any Global Instrument, or the part of that Global Instrument to be exchan

ed, the Issuer will (a) in the

case of a temporary Global Instrument exchan

eable for a permanent Global Instrument, deliver, or procure the delivery of, a

permanent Global Instrument in an a

ate nominal amount equal to that of the whole or that part of a temporary Global

Instrument that is bein

exchan

ed or, in the case of a subsequent exchan

e, endorse, or procure the endorsement of, a

permanent Global Instrument to reflect such exchan

e or (b) in the case of a Global Instrument exchan

eable for Definitive

Instruments, deliver, or procure the delivery of, an equal a

ate nominal amount of duly executed and authenticated

Definitive