National Grid 2008 Annual Report Download - page 712

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 49762
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-15.1, Doc: 16, Page: 184
Description: EXHIBIT 15.1
0/9380.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/380/9*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 49762
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-15.1, Doc: 16, Page: 184 Description: EXHIBIT 15.1
0/9380.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/380/9*
Table of Contents
192
Shareholder information continued
National Grid plc
Cautionary Statement
This document comprises the Annual Report
and Accounts for the year ended 31
March 2008 for National Grid and its
subsidiaries. It contains the Directors’ Report
and Financial Statements, together with the
Independent Auditor’s Report thereon, as
required b
y
the UK Companies Act 1985. The
Annual Review of National Grid for the same
period is published as a separate document.
The Directors’ Report on pages 98 and 99
and the Directors’ Remuneration Report on
pages 100 to 110 have each been drawn up
in accordance with the requirements of
English law, and liability in respect thereof is
also governed by English law. In particular,
the liabilit
y
of the Directors for these reports is
solely to National Grid.
This document also contains certain
statements that are neither reported financial
results nor other historical information. These
statements are forward-looking statements
within the meanin
g
of Section 27A of the
Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act
of 1934, as amended. These statements
include information with respect to our
financial condition, our results of operations
and businesses, strategy, plans and
objectives. Words such as ‘anticipates’,
‘expects’, ‘intends’, ‘plans’, ‘believes’, ‘seeks’,
‘estimates’, ‘may’, ‘will’, ‘continue’, ‘project’
and similar expressions, as well as
statements in the future tense, identify
forward-looking statements. These forward-
looking statements are not guarantees of our
future performance and are subject to
assumptions, risks and uncertainties that
could cause actual future results to differ
materially from those expressed in or implied
by such forward-looking statements. Many of
these assumptions, risks and uncertainties
relate to factors that are beyond our ability to
control or estimate precisely, such as delays
in obtaining, or adverse conditions contained
in, regulatory approvals and contractual
consents, unseasonable weather affecting
the demand for electricity and gas,
competition and industry restructuring,
changes in economic conditions, currency
fluctuations, changes in interest and tax
rates, changes in energy market prices,
changes in historical weather patterns,
changes in laws, regulations or regulatory
policies, developments in legal or public
policy doctrines, the impact of changes to
accounting standards and technological
developments. Other factors that could cause
actual results to differ materially from those
described in this document include the ability
to integrate the businesses relating to
announced acquisitions with our existing
business to realise the expected synergies
from such integration, the availability of new
acquisition opportunities and the timing and
success of future acquisition opportunities,
the timing and success or other impact of the
sales of our non-core businesses, the failure
for any reason to achieve reductions in costs
or to achieve operational efficiencies, the
failure to retain key management, the
behaviour of UK electricity market
participants on system balancing, the timing
of amendments in prices to shippers in the
UK gas market, the performance of our
pension schemes and the regulatory
treatment of pension costs, and any adverse
consequences arising from outages on or
otherwise affecting energy networks,
including gas pipelines, which we own or
operate. For a more detailed description of
some of these assumptions, risks and
uncertainties, together with any other risk
factors, please see our filings with and
submissions to the US Securities and
Exchange Commission (the ‘SEC’) (and in
particular the ‘Risk Factors’ and ‘Operating
and Financial Review’ sections in our most
recent Annual Report on Form 20-F). Except
as may be required by law or regulation,
National Grid undertakes no obligation to
update any of its forward-looking statements.
The effects of these factors are difficult to
predict. New factors emer
g
e from time to time
and we cannot assess the potential impact of
any such factor on our activities or the extent
to which an
y
factor, or combination of factors,
may cause results to differ materially from
those contained in any forward-looking
statement.
Printed on revive 100 uncoated paper. This paper is made
from 100% de-inked post consumer waste. It has been
certified according to the rules of the Forest Stewardship
Council (FSC) and it is produced at a mill that is certified
to ISO 14001 environmental management standards. The
mill uses pulps that are an elemental chlorine free (ECF)
p
rocess and the inks used are all ve
g
etable oil based.
National Grid plc
1-3 Strand, London WC2N 5EH, United Kingdom
Registered in England and Wales No. 4031152
www.national
g
rid.com
For queries about ORDINARY
SHARES contact:
Ca
p
ita Re
g
istrars
Telephone: [phone]*
(from outside the UK: [phone])
(textphone: 18001 0870 242 2379)
*Calls are charged at 10p per minute plus network extras
email:
[e-mail]
Website:
www.nationalgrid.com/shareholders
Postal address:
National Grid Share Register
Capita Registrars
Northern House
Woodsome Park
Fenay Bridge
Huddersfield HD8 0GA
For queries about
AMERICAN DEPOSITARY
SHARES
(
ADSs or ADRs
)
contact:
The Bank of New York Mellon
Telephone: [phone]
(from outside the US: [phone])
email: [e-mail]
Website: www.adrbny.com
Postal address:
The Bank of New York Mellon
Shareholders Correspondence
PO Box 11258
Church Street Station
New York NY 10286-1258