National Grid 2008 Annual Report Download - page 26

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 7675
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: 20-F, Doc: 1, Page: 20
8/6020.00.00.00Y59930BNY
[A/E] EDGAR 2 *Y59930/020/6*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 7675
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: 20-F, Doc: 1, Page: 20
8/6020.00.00.00Y59930BNY
[A/E] EDGAR 2 *Y59930/020/6*
Table of Contents
assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s
assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect
misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that
controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies
or procedures may deteriorate.
As described in Managements’ evaluation of the effectiveness of internal control over financial reporting,
included under Item 15 in this Form 20-F, management has excluded KeySpan Corporation from its assessment of
internal control over financial reporting as of 31 March 2008 because KeySpan Corporation was acquired by the
Company in a purchase business combination during the year ended 31 March 2008. We have also excluded
KeySpan Corporation from our audit of internal control over financial reporting. KeySpan Corporation is a wholly-
owned subsidiary whose total assets and total revenues represent 25% and 22%, respectively, of the related
consolidated financial statement amounts as of and for the year ended 31 March 2008.
PricewaterhouseCoopers LLP
London, United Kingdom
14 May 2008
Pursuant to the rules and regulations of the US Securities and Exchange Commission, National Grid has filed
certain agreements as exhibits to this Annual Report on Form 20-F. These agreements may contain representations
and warranties by the parties to them. These representations and warranties have been made solely for the benefit of
the other party or parties to such agreement and (i) may be intended not as statements of fact, but rather as a way of
allocating the risk to one of the parties to such agreements if those statements turn out to be inaccurate, (ii) may have
been qualified by disclosures that were made to such other party or parties and that either have been reflected in the
company’s filings or are not required to be disclosed in those filings, (iii) may apply materiality standards different
from what may be viewed as material to investors and (iv) were made only as of the date of such agreements or such
other date or dates as may be specified in such agreements and are subject to more recent developments.
Accordingly, these representations and warranties may not describe National Grid’s actual state of affairs at the date
hereof.
In accordance with the instructions to Item 2(b)(i) of the Instructions to Exhibits to the Form 20-F, National Grid
agrees to furnish to the US Securities and Exchange Commission, upon request, a copy of any instrument relating to
long-term debt that does not exceed 10 percent of the total assets of National Grid and its subsidiaries on a
consolidated basis.
17
Item 19.
E
xhibits