ITC Holdings Corp. to Ring the Opening Bell at the New York Stock Exchange

Sep 22, 2005

ITC Holdings Corp. to Ring the Opening Bell at the New York Stock Exchange

ITC's Role as Public Company Milestone for Energy Industry

NEW YORK, Sept 22, 2005 /PRNewswire-FirstCall via COMTEX/ -- On Friday, September 23, ITC Holdings Corp. (NYSE: ITC) will be the first-ever independent electricity transmission company to ring the opening bell of the New York Stock Exchange. The company began trading on the exchange on July 26, 2005, and in the first couple of months as a publicly traded company, issued a quarterly dividend of $0.2625 per share.

"To have an independent transmission company ringing this bell is a historic moment for the electric power industry," said Joseph L. Welch, president and CEO of ITC. "ITC has gotten off to a strong start as a publicly-listed company, and our listing on the New York Stock Exchange is an honor and cause for celebration."

ITC and their wholly owned subsidiary, International Transmission Company, is inspiring change. As the first independent transmission company, International Transmission has taken major steps in improving reliability and service to customers. Since taking ownership of the system, ITC has significantly increased capital investment as a means to improve electric reliability.

"Our commitment to reinvest in this country's ailing transmission infrastructure for the benefit of our customers has gotten us to where we are today and will enable us to continue to grow now as a publicly-traded company," said Welch. "May our stock act as a bellwether for valuing a safe, stable and reliable national electric grid that can reduce congestion and lower the cost of delivered energy."

About ITC Holdings Corp.

ITC Holdings' operating subsidiary, International Transmission, is the first independently owned and operated electricity transmission company in the United States. International Transmission 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 International Transmission system serve an area comprised of 13 southeastern Michigan counties, including the Detroit metropolitan area. For more information on ITC Holdings, please visit http://www.itc-holdings.com . For more information on International Transmission, please visit http://www.itctransco.com .

SOURCE ITC Holdings Corp.

Lisa Aragon of ITC Holdings Corp., +1-248-835-9300, laragon@itctransco.com ; or Marc Harlow of Franco Public Relations Group, +1-810-599-2558, harlow@franco.com