National Grid 2008 Annual Report Download - page 99

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 63955
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.5.1, Doc: 4, Page: 3
Description: EXH 2(B).5.1
0/2482.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/482/2*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 63955
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.5.1, Doc: 4, Page: 3 Description: EXH 2(B).5.1
0/2482.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/482/2*
tax law requirements. Subject to certain exceptions, Instruments may not be offered, sold or delivered within the United States
or to U.S. persons. For a description of certain restrictions on offers and sales of Instruments and on distribution of this
Prospectus or any Final Terms, see “Plan of Distribution”.
Neither this Prospectus nor any Final Terms constitutes an offer of, or an invitation by or on behalf of the relevant Issuer or the
Dealers to subscribe for, or purchase, any Instruments.
None of the Dealers, the Arran
g
er or the Trustee have independently verified the information contained in this Prospectus.
None of the Dealers, the Arran
g
er or the Trustee makes any representation, express or implied, or accepts any responsibility,
with respect to the accuracy or completeness of any of the information in this Prospectus. Neither this Prospectus nor any other
financial statement is intended to provide the basis of any credit or other evaluation and should not be considered as a
recommendation by either of the Issuers, the Trustee, the Arran
g
er or the Dealers that any recipient of this Prospectus or any
other financial statements should purchase the Instruments. Each potential purchaser of Instruments should determine for itself
the relevance of the information contained in this Prospectus and its purchase of Instruments should be based upon such
investi
g
ation as it deems necessary. None of the Dealers, the Arran
g
er or the Trustee undertakes to review the financial
condition or affairs of either of the Issuers durin
g
the life of the arran
g
ements contemplated by this Prospectus or to advise any
investor or potential investor in the Instruments of any information comin
g
to the attention of any of the Dealers, the Arran
g
er or
the Trustee.
In this Prospectus, unless otherwise specified or the context otherwise requires, references to “Euro” are to the currency of
those member states of the European Union which are participatin
g
in European Economic and Monetary Union pursuant to the
Treaty establishing the European Community, as amended, to “Japanese yen” are to the lawful currency of Japan, to “£” and
“Sterling” are to the lawful currency of the United Kingdom, to “U.S. dollars” and “U.S.$” are to the lawful currency of the
United States of America, to “Canadian dollars” are to the lawful currency of Canada, to “Australian dollars” are to the lawful
currency of Australia, to “New Zealand dollars” are to the lawful currency of New Zealand, to “Swedish krona” are to the
lawful currency of Sweden, to “Danish krone” are to the lawful currency of Denmark, to “Hong Kong dollars” are to the lawful
currency of Hong Kong and to “Swiss francs” are to the lawful currency of Switzerland.
In connection with the issue of any Tranche (as defined in “Overview of the Programme - Method of Issue”), the Dealer
or Dealers (if any) named as the stabilising manager(s) (the “Stabilising Manager(s)”) in the applicable Final Terms (or
any person acting on behalf of any Stabilising Manager(s)) may over-allot Instruments or effect transactions with a
view to supporting the market price of the Instruments at a level higher than that which might otherwise prevail.
However, there is no assurance that the Stabilising Manager(s) (or any person acting on behalf of any Stabilising
Manager) will undertake stabilisation action. Any stabilisation action may begin on or after the date on which adequate
public disclosure of the final terms of the offer of the relevant Tranche is made and, if begun, may be ended at any
time, but it must end no later than the earlier of 30 days after the issue date of the relevant Tranche and 60 days after
the date of the allotment of the relevant Tranche. Any stabilisation action or over-allotment must be conducted by the
relevant Stabilising Manager(s) or person(s) acting on behalf of any Stabilising Manager(s) in accordance with all
applicable laws and rules.
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