G. Bennett Stewart, III, Appointed to ITC Holdings Board of Directors

Jul 26, 2006

NOVI, Mich., July 26, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- ITC Holdings Corp. (NYSE: ITC) today announced that Bennett Stewart has been appointed to the ITC Holdings Board of Directors. He will also serve on the Company's audit committee.

"We are delighted to have Bennett accept our invitation to join ITC's Board of Directors," said Joseph L. Welch, president and CEO of ITC Holdings. "We look forward to working with him and expect that his distinguished career and financial background will serve both our customers and shareholders well."

A founding partner with Joel Stern of Stern Stewart & Co., a global management consulting firm, Mr. Stewart also currently serves as CEO of EVA Dimensions, a firm he formed in March, 2006 to acquire and manage the valuation modeling and investment research and funds management services of Stern Stewart & Co.

Mr. Stewart is also the author of The Quest for Value, which is regarded as the definitive guide to EVA ("economic value added"), a value-based financial management and incentive compensation framework now employed at over 350 companies worldwide. Mr. Stewart has written and lectured widely in his 30 year professional career on topics such as accounting for value and management incentive plans.

Mr. Stewart is a 1974 graduate of Princeton University in electrical engineering and 1976 graduate of the University of Chicago Graduate School of Business MBA program. He presently serves as Chairman of the Alumni Advisory Council for Princeton's Department of Operations Research and Financial Engineering.

About ITC Holdings Corp.

ITC Holdings Corp.'s wholly owned operating subsidiary, ITCTransmission, is the first independently owned and operated electricity transmission company in the United States. ITCTransmission owns, operates and maintains a fully- regulated, high-voltage system that transmits electricity to local electric distribution facilities from generating stations in Michigan, other Midwestern states and Ontario, Canada. The local distribution facilities connected to the ITCTransmission system serve an area comprised of 13 southeastern Michigan counties, including the Detroit metropolitan area. For more information on ITCTransmission, please visit http://www.itctransco.com. For more information on ITC Holdings, please visit http://www.itc-holdings.com. (itc-ITC)

SOURCE ITC Holdings Corp.

Lisa Aragon of ITC Holdings Corp., +1-248-835-9300, laragon@itctransco.com


Copyright (C) 2006 PR Newswire. All rights reserved.

News Provided by COMTEX