ITC Holdings Corp. Announces Pricing of Private Placement of $385.0 Million of its...

ITC Holdings Corp. Announces Pricing of Private Placement of $385.0 Million of
its 6.050% Senior Notes due 2018

NOVI, Mich., Jan. 15 /PRNewswire-FirstCall/ ITC Holdings Corp. (NYSE: ITC)
today announced that it has priced $385.0 million aggregate principal amount
of its 6.050% Senior Notes due 2018 which will be sold in a private placement
to qualified institutional buyers under Rule 144A and to non.U.S. persons
outside the United States under Regulation S.
The private placement of senior notes is part of the financing that will
be used to refinance the debt incurred by ITC Holdings Corp. to fund the
acquisition by ITC Midwest LLC, its wholly-owned subsidiary, of the electric
transmission assets of Interstate Power and Light Company.
The senior notes have not been registered under the Securities Act of
1933, as amended (the "Securities Act"), or any state securities laws, and
unless so registered, may not be offered or sold except pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act and applicable state securities laws. This
press release does not constitute an offer to sell or the solicitation of an
offer to buy any security and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offering would be unlawful.
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 (METC) and ITC
Midwest, 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:
http://www.itc-holdings.com. (itc-ITC)
SOURCE ITC Holdings Corp.

Investor/Analyst Contact: Pat Wenzel, +1-248-374-7200,
pwenzel@itc-holdings.com, Media Contact: Cheryl Eberwein, +1-248-767-1068,
ceberwein@itctransco.com, both of ITC Holdings