ITC Holdings Corp. Completes Assessment on Effective Internal Controls Under Section 404 of Sarbanes-Oxley Act

Mar 17, 2006

ITC Holdings Corp. Completes Assessment on Effective Internal Controls Under Section 404 of Sarbanes-Oxley Act

ITCTransmission parent company conforms one year early

Novi, Mich., March 17, 2006 – ITC Holdings Corp. (NYSE: ITC), parent company of ITCTransmission, today announced that it has completed its assessment that its internal controls over financial reporting were effective as of December 31, 2005. This certification, required under Section 404 of the Sarbanes-Oxley Act, was achieved one year earlier than necessary under the law.

"Becoming Sarbanes-Oxley compliant is an important component of our never-ending efforts to be a best-in-class utility company and good corporate citizen," said Joseph L. Welch, president and CEO of ITC Holdings Corp. and ITCTransmission. "This achievement is part of our dedication to our customers and our shareholders."

Management's report on internal control over financial reporting and the related report of our independent registered public accounting firm are included in our Form 10-K filed with the Securities and Exchange Commission on March 16, 2006.

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.