ITC Holdings Corp. Board Appoints Welch to Chairman

May 22, 2008

NOVI, Mich., May 22, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- ITC Holdings Corp. (NYSE: ITC) today announced that its Board of Directors has appointed ITC president and CEO Joseph L. Welch to chairman of the board.

"We are delighted that Mr. Welch will now be serving in the capacity as chairman of ITC's board of directors," said Lee C. Stewart, lead director of ITC's board of directors. "His leadership and vision for operational excellence, improving electric reliability, addressing the needs of customers and facilitating equal access to the grid for all generation sources, including wind and renewables, is essential to paving the way not only for the future of ITC but for the energy industry as a whole."

Mr. Welch has been a director and the president, chief executive officer and treasurer of ITC since its inception in 2003. Mr. Welch has overall responsibility for our company's vision, foundation and transformation into the first independently owned and operated electric transmission company in the United States. Mr. Welch worked for Detroit Edison and subsidiaries of DTE Energy from 1971 to 2003. During that time, he held positions of increasing responsibility in the electricity transmission, distribution, rates, load research, marketing and pricing areas, as well as regulatory affairs that included the development and implementation of regulatory strategies.

Mr. Welch has a bachelor of science degree in electrical engineering from the University of Kansas and is a Licensed Professional Engineer in the State of Michigan.

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, Michigan Electric Transmission Company, LLC (METC) and ITC Midwest LLC, ITC operates regulated, high-voltage transmission systems in Michigan's Lower Peninsula and portions of Iowa, Minnesota, Illinois and Missouri serving a combined peak load in excess of 25,000 megawatts. ITC is also focused on new areas where significant transmission system improvements are needed through subsidiaries ITC Grid Development, ITC Great Plains and ITC Panhandle Transmission. For more information, please visit: (itc- ITC)

SOURCE ITC Holdings Corp.

Copyright (C) 2008 PR Newswire. All rights reserved

News Provided by COMTEX