ITC Great Plains Reaches Agreement with Other Utilities to Advance Critical Transmission...

ITC Great Plains Reaches Agreement with Other Utilities to Advance Critical
Transmission Infrastructure Project

Pact will resolve KCC V-Plan certification; enable parties to pursue SPP
approvals

TOPEKA, Kan., June 1 /PRNewswire-FirstCall/ -- In an important project
milestone, ITC Great Plains, LLC (ITC Great Plains) today signed an agreement
to resolve pending regulatory proceedings about who should be authorized to
build the 180-mile long transmission line project known as the Kansas V-Plan.
The agreement will now be filed at the Kansas Corporation Commission (KCC).

Under the terms of the proposed settlement agreement, ITC Great Plains and
Prairie Wind Transmission, LLC (Prairie Wind), would be authorized by the KCC
to build different segments of the V-Plan, which will run between Spearville
and Wichita, Kan. The agreement stipulates that ITC will construct and own two
segments of the line, including the first section of line running from
Spearville to Comanche County, Kan. and the second section from Comanche
County to Medicine Lodge, Kan. ITC Great Plains will also construct a new
substation in Comanche County.

Prairie Wind will construct a substation at Medicine Lodge and a third section
of line from that substation to a termination point outside of Wichita.
Prairie Wind also would be certificated to construct a line from the V-Plan to
the Oklahoma border. The settlement agreement addresses only facilities
proposed to be constructed in Kansas.

ITC Great Plains' participation in the V-Plan project is part of its
collaboration with Sunflower Electric Power Corporation (Sunflower) and
Mid-Kansas Electric Company (Mid-Kansas).

"This resolution is a major milestone in our efforts to build a 21st century
transmission grid in Kansas," said Carl Huslig, ITC Great Plains president.
"The parties involved in this proceeding have worked diligently to achieve a
solution for building crucial transmission infrastructure.

"Kansans will be the ultimate beneficiaries of a robust transmission grid that
will increase reliability, lower costs, provide equal access to energy and
further wind energy development. ITC Great Plains and its partners are
grateful to the Kansas Electric Transmission Authority (KETA) and the KCC for
their ongoing efforts to advance transmission investment and development in
the state," Huslig concluded.

The Kansas V-Plan will connect east and west Kansas and will improve electric
reliability, enable renewable energy developers to tap into the transmission
grid and help further establish a competitive energy market in the state.

If the agreement is approved by the KCC, ITC Great Plains, Sunflower,
Mid-Kansas and Prairie Wind will pursue next steps including securing siting
approvals, resolution of cost allocation issues and project evaluation by the
Southwest Power Pool, Inc. (SPP) regional planning authority.

The V-Plan is anticipated to be constructed at a voltage of 765 kV if deemed
appropriate by SPP. ITC estimates it will invest approximately $400 million to
construct its portions of the project. This is the largest electric
infrastructure investment proposed in Kansas in nearly 25 years.

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:
http://www.itc-holdings.com.

About ITC Great Plains, LLC
ITC Great Plains was formed in July 2006 as a subsidiary of ITC Grid
Development, a wholly-owned subsidiary of ITC Holdings Corp. ITC Great Plains
is a transmission-only utility which seeks to build a more robust electric
transmission system so that every electric customer in SPP will have access to
reliable, non-discriminatory, competitive and low-cost energy. ITC Great
Plains was granted transmission-only utility status in Kansas and has a
utility status application pending in Oklahoma which provides the ability for
ITC Great Plains to own and operate a fully-regulated, high-voltage
transmission system that transmits electricity to local electricity
distribution facilities from generating stations throughout the SPP region.
ITC Great Plains is committed to working with all stakeholders to identify and
solve transmission issues throughout SPP.

SOURCE ITC Holdings Corp.

Investor/Analyst contact: Pat Wenzel, +1-248-946-3570,
pwenzel@itc-holdings.com; or Media contacts: Cheryl Eberwein, +1-248-767-1068,
ceberwein@itctransco.com; or Kimberly Svaty, +1-913-486-4446,
kgencur@gencursvaty.com, all for ITC