HERE's something to look forward to - the musical Grease. The seven-time Tony Award-nominated hit and one of the longest-running shows on Broadway will be staged in the territory next month. Grease , which ran 3,388 consecutive performances on Broadway and was made into a hit film starring John Travolta and Olivia Newton-John, is a rollicking blast from the past - a rock and roll romp down memory lane that recaptures those electrifying '50s. Set in the fictitious Rydell High School in Chicago, the story is chiefly concerned with the attraction between ''greaser'' Danny Zuko and prim and proper Sandy Dumbrowski. Mocking individuality and championing conformity, the musical hit a responsive chord in youth audiences that could identify with teenagers having little on their minds except romance and hanging out. The musical numbers are as irresistible as their titles - songs like ''Look at Me, I'm Sandra Dee'', ''It's Raining on Prom Night'', ''Beauty School Dropout''. ''Alone at a Drive-In Movie'', and ''There Are Worse Things I Could Do''. And there is dancing, dancing and more dancing - they shag, they jitterbug, and they bop until they drop! The nostalgic and romantic musical is produced by Jeffrey Moss, one of the foremost producers of touring theatrical musical productions in New York. The staging of this musical of unrivalled energy and excitement will take place at the Lyric Theatre, Hongkong Academy for Performing Arts, from March 26 to 28. Tickets priced at $450, $350 and $250 are available through priority booking on 665-0990 and at all URBTIX outlets from February 25. For more information, call Ms Candy Ma, Meeting Planners (HK) Ltd, at 665-0990.