[syriacus]

thanks for the info. I did a google search on Alberto Bianchetti, who was mentioned in your post

Page 1
FOR IMMEDIATE RELEASE
CONTACT:
National Grid
Niagara Mohawk
Jackie Barry
Alberto Bianchetti
508-389-3298
315-428-6932

SEC APPROVES NATIONAL GRID-NIAGARA MOHAWK MERGER

Merger Expected to Close on January 31, 2002;
Shareholder Election Deadline is January 24, 2002
Westborough, MA and Syracuse, NY, Jan. 16, 2002 -- The U.S. Securities and
Exchange Commission (SEC) today approved the merger between National Grid Group
plc (LSE:NGG and NYSE:NGG) and Niagara Mohawk Holdings Inc. (NYSE:NMK).
This was the final regulatory approval required to complete the transaction. The
companies expect to close the merger on January 31, 2002.
In accordance with the terms of the Merger Agreement, Niagara Mohawk
shareholders will receive consideration of $18.89 for each share of Niagara Mohawk
common stock held, valuing the equity of Niagara Mohawk at $3.0 billion. The per share
consideration was determined by the average U.S. dollar price of five National Grid
Ordinary shares being $32.22 as calculated from 20 trading days randomly selected from
the 40 consecutive trading day period November 13, 2001 to
January 10, 2002. As the average price is below the bottom of the range of $32.50 to
$51.00 specified in the Merger Agreement, the base $19.00 consideration per Niagara
Mohawk share has been reduced by two-thirds of the percentage decrease below $32.50.
Niagara Mohawk shareholders can elect to receive their consideration in the form
of $18.89 cash per share, 0.5863 National Grid American Depositary Shares per share, or
a combination of both.
- more -

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SEC Approves National Grid-Niagara Mohawk Merger/2
The Merger Agreement states that the total amount of cash payable to Niagara
Mohawk shareholders will be $1.015 billion, but National Grid will increase this amount
to 50 per cent of the total consideration, if it receives sufficient cash elections. National
Grid will, so far as possible, satisfy Niagara Mohawk shareholders’ elections. However,
to the extent that they cannot be satisfied in full they will be scaled down on a pro rata
basis.
The deadline for Niagara Mohawk shareholders to return their forms of election to
the Exchange Agent, The Bank of New York, is 5:00 p.m. Eastern Standard time on
January 24, 2002. Election materials and delivery instructions were mailed to Niagara
Mohawk shareholders on December 27, 2001. Niagara Mohawk shareholders who did
not receive that mailing should contact the information agent for this transaction, Mellon
Investor Services, at (800) 953-2703 as soon as possible. Mailing and delivery
instructions are also available on the companies’ websites at www.nationalgrid.com and
www.niagaramohawk.com.
On November 28, the New York Public Service Commission approved a merger
plan, effective upon closure, that calls for an average electricity delivery rate reduction of
eight percent for Niagara Mohawk residential customers, which translates to estimated
savings of five percent on residential customers’ total bills. The plan also calls for price-
stabilized electricity commodity service for residential and small commercial customers
for several years
,
economic development initiatives, extension of an existing gas rate
freeze, and a host of other benefits for the company’s customers and the upstate New
York region.
National Grid Group plc is an international, U.K.-based company that builds,
owns and manages electricity and telecommunications networks. Its U.S. operations
include four New England electricity distribution companies that serve a total of
approximately 1.7 million customers, and a substantial transmission business.
Niagara Mohawk Holdings, Inc. is an investor-owned energy services company that
provides electricity to more than 1.5 million customers across 24,000 square miles of
upstate New York. The company also delivers natural gas to more than 540,000
customers over 4,500 square miles of eastern, central and northern New York

[syriacus]

http://www.ngtgroup.com/businesses/mn_ngusa.html

From below:
National Grid operates high-voltage direct current transmission lines and alternating current/direct current terminals for the Hydro-Quebec and New England transmission interconnection.

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National Grid USA is one of the ten largest electric utilities (by customers) in the US. Its electricity delivery network includes 12,000 miles of transmission lines and 72,000 miles of distribution lines. National Grid has the largest transmission and distribution network in the New York/New England region.

Electricity distribution

National Grid has five US electricity distribution companies that serve approximately 3.2 million customers in the states of New York, Massachusetts, Rhode Island and New Hampshire:

* Niagara Mohawk serves more than 1.5 million customers in 669 communities in upstate New York
* Massachusetts Electric serves approximately 1.2 million customers in 168 Massachusetts communities
* Narragansett Electric serves approximately 465,000 customers in 38 Rhode Island communities
* Granite State Electric serves more than 38,000 customers in 21 New Hampshire communities
* Nantucket Electric serves more than 10,000 customers on the island community of Nantucket, 30 miles off the coast of Cape Cod, Massachusetts


Natural gas distribution

Niagara Mohawk Power Corporation delivers natural gas to more than 540,000 customers in 197 communities in upstate New York.

Electricity transmission

National Grid Transmission USA represents the combined electricity transmission interests of the National Grid USA subsidiaries, including those listed below:

* Niagara Mohawk Power Corporation owns and operates approximately 9,000 miles of transmission lines and other transmission facilities in upstate New York
* New England Power Company owns and/or operates approximately 3,000 miles of transmission lines and other transmission facilities in Massachusetts, Hampshire, Rhode Island and Vermont
* National Grid Transmission Services Corporation provides consulting, engineering, and operations support services to transmission customers


Interconnectors

National Grid operates high-voltage direct current transmission lines and alternating current/direct current terminals for the Hydro-Quebec and New England transmission interconnection.

National Grid USA
25 Research Drive
Westborough
Massachusetts 01582
USA
Telephone:  +1 (508) 389 2000
Facsimile:  +1 (508) 389 2605