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ITC Midwest Receives Approval to Purchase Interstate Power and Light Transmission Assets in Illinois

Nov 28, 2007

NOVI, Mich., Nov 28, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- ITC Midwest LLC today received unanimous verbal approval from the Illinois Commerce Commission (ICC) to purchase the transmission assets of Interstate Power and Light Company (IPL) in Illinois. ITC Midwest is a subsidiary of ITC Holdings Corp. (NYSE: ITC); IPL is a subsidiary of Alliant Energy Corp. (NYSE: LNT).

During a meeting early today, the ICC voted 4-0 to allow the transfer of IPL's transmission assets in Illinois to ITC Midwest. ITC expects to receive a written copy of the final order, detailing conditions of the approval, soon. The ICC decision provides ITC Midwest with one of the final regulatory approvals it needs in order to own, operate and maintain approximately 6,800 miles of 34.5 kV and above transmission lines and stations in Iowa, Missouri, Minnesota and Illinois. ITC Midwest is still awaiting final determinations in its requests for regulatory approvals from the state of Minnesota and the Federal Energy Regulatory Commission. The company has already secured regulatory approvals for the transaction in Missouri in August and in Iowa in September. In May 2007, the Federal Trade Commission completed its investigation of the sale and terminated the waiting period under the Hart- Scott-Rodino Antitrust Improvements Act of 1976, as amended.

"We are pleased that the Illinois Commerce Commission has placed its trust in ITC and are fully prepared to honor the commitments we made to the state and its residents," said Joseph L. Welch, president and CEO, ITC. "We anticipate building a strong partnership in Illinois and with all of the regulatory authorities involved in this multi-state transaction to achieve our objectives of upgrading the transmission infrastructure, reducing costly system congestion, interconnecting customers, and facilitating the entrance of renewable resources into the market."

The ICC decision represents the fourth favorable ruling the companies have received on their joint application seeking approval for the sale of transmission assets from IPL to ITC Midwest. Pending receipt of all federal and state regulatory approvals, ITC Midwest and IPL expect to complete this transaction by the end of the year.

About ITC Holdings Corp.

ITC Holdings Corp. (NYSE: ITC) invests in the electricity transmission grid to improve electric reliability, improve access to markets, and lower the overall cost of delivered energy. ITC is the largest independent electricity transmission company in the country. Through its subsidiaries, ITCTransmission and Michigan Electric Transmission Company (METC), ITC operates contiguous, regulated, high-voltage transmission systems in Michigan's Lower Peninsula serving a combined peak load in excess of 22,000 megawatts. ITC is also focused on new areas where significant transmission system improvements are needed through subsidiaries ITC Midwest, ITC Grid Development, ITC Great Plains and ITC Panhandle Transmission. For more information, please visit: (itc-ITC)

SOURCE ITC Holdings Corp.

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