National Grid 2008 Annual Report Download - page 345

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 31029
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.7.1, Doc: 8, Page: 2
Description: EXH 2(B).7.1
0/2756.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/756/2*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 31029
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.7.1, Doc: 8, Page: 2 Description: EXH 2(B).7.1
0/2756.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/756/2*
IMPORTANT NOTICES
This Prospectus is comprised of base prospectuses for the purposes of Article 5.4 of the Prospectus Directive and relevant
implementin
g
measures in the United Kin
g
dom and for the purpose of
g
ivin
g
information with re
g
ard to each of (i) with the
exception of the information contained in the sections entitled “Description of National Grid Gas Finance (No 1) plc”, “Risk
Factors – Risks relating to National Grid Gas Finance (No 1) plc and its business” and the information contained in para
g
raphs
3, 5, 8, 11 and 14(iii) in the section entitled “General Information”, National Grid Gas and each of its subsidiary undertakin
g
s
(together, the “National Grid Gas Group”) (the “National Grid Gas Base Prospectus”) and, (ii) with the exception of the
information contained in the sections entitled “Description of National Grid Gas plc”, “Risk Factors – Risks relatin
g
to National
Grid Gas plc and its business” and the information contained in para
g
raphs 2, 4, 7, 9, 10, 14(ii) and 14(iv) in the section entitled
“General Information”, National Grid Gas Finance (No 1) (the “National Grid Gas Finance (No 1) Base Prospectus”), to
g
ether
with the National Grid Gas Base Prospectus, the “Base Prospectuses” and each a “Base Prospectus”) which, accordin
g
to
the particular nature of each Issuer and the Guarantor and the Instruments to be issued by each Issuer, is necessary to enable
investors to make an informed assessment of the assets and liabilities, financial position, profit and losses and prospects of the
relevant Issuer and the rights attaching to such Instruments.
National Grid Gas accepts responsibility for the information contained in the National Grid Gas Base Prospectus. To the best of
the knowled
g
e of National Grid Gas (havin
g
taken all reasonable care to ensure that such is the case) such information
contained in the National Grid Gas Base Prospectus is in accordance with the facts and does not omit anythin
g
likely to affect
the import of such information.
Each of National Grid Gas Finance (No 1) and the Guarantor accepts responsibility for the information contained in the National
Grid Gas Finance (No 1) Base Prospectus. To the best of the knowled
g
e of National Grid Gas Finance (No 1) and the
Guarantor (each havin
g
taken all reasonable care to ensure that such is the case) such information contained in the National
Grid Gas Finance (No 1) Base Prospectus is in accordance with the facts and does not omit anythin
g
likely to affect the import
of such information.
This Prospectus has been prepared on the basis that any offer of Instruments in any Member State of the European Economic
Area which has implemented the Prospectus Directive (each, a “Relevant Member State”) will be made pursuant to an
exemption under the Prospectus Directive, as implemented in that Relevant Member State, from the requirement to publish a
prospectus for offers of Instruments. Accordin
g
ly any person makin
g
or intendin
g
to make an offer in that Relevant Member
State of Instruments which are the subject of an offerin
g
contemplated in this Prospectus as completed by final terms in relation
to the offer of those Instruments may only do so in circumstances in which no obli
g
ation arises for any Issuer or any Dealer to
publish a prospectus pursuant to Article 3 of the Prospectus Directive or supplement a prospectus pursuant to Article 16 of the
Prospectus Directive, in each case, in relation to such offer.
This Prospectus should be read and construed to
g
ether with any amendments or supplements hereto and with any documents
deemed to be incorporated herein (see “Documents Incorporated By Reference” below) and, in relation to any Tranche (as
defined herein) of Instruments, should be read and construed together with the applicable Final Terms (as defined herein).
No person has been authorised to
g
ive any information or to make any representation other than those contained in this
Prospectus in connection with the issue or sale of the Instruments and, if
g
iven or made, such information or representation
must not be relied upon as havin
g
been authorised by either of the Issuers or any of the Dealers or the Arran
g
er (as defined in
“Overview of the Programme”).
Neither the delivery of this Prospectus or any Final Terms nor the offerin
g
, sale or delivery of any Instrument shall, under any
circumstances, create any implication that the information contained in this Prospectus is true subsequent to the date hereof,
that there has been no change (or any event
2