ITC Holdings Corp. Increases Quarterly Dividend Rate By 7 Percent

      ITC Holdings Corp. Increases Quarterly Dividend Rate By 7 Percent

PR Newswire

NOVI, Mich., Aug.16, 2012

NOVI, Mich., Aug.16, 2012 /PRNewswire/ --ITC Holdings Corp. (NYSE: ITC)
announced today that its board of directors declared a quarterly cash dividend
of $0.3775 per share, representing an increase of approximately 7 percent from
the previous quarterly rate of $0.3525 per share. This increase marks the
seventh consecutive year that ITC has raised the dividend on its common stock.

The quarterly cash dividend is payable September 17, 2012 to shareholders of
record as of September 4, 2012.

"ITC remains dedicated to delivering on our commitments to our customers by
investing in transmission infrastructure that serves to improve system
reliability, enhance the effectiveness of wholesale markets and lower the
delivered cost of energy," said Joseph L. Welch, chairman, president and CEO.
"By doing so, we have also created sustained value for our shareholders, as
evidenced in part by our ability to consistently increase our dividend since
becoming a public company." 

About ITC Holdings Corp.

ITC Holdings Corp. (NYSE: ITC) is the nation's largest independent electric
transmission company. Based in Novi, Michigan, ITC invests in the electric
transmission grid to improve reliability, expand access to markets, lower the
overall cost of delivered energy and allow new generating resources to
interconnect to its transmission systems. ITC's regulated operating
subsidiaries include ITCTransmission, Michigan Electric Transmission Company,
ITC Midwest and ITC Great Plains. Through these subsidiaries, ITC owns and
operates high-voltage transmission facilities in Michigan, Iowa, Minnesota,
Illinois, Missouri, Kansas and Oklahoma, serving a combined peak load
exceeding 26,000 megawatts along 15,000 circuit miles of transmission line.
Through ITC Grid Development and its subsidiaries, the company also focuses on
expansion in areas where significant transmission system improvements are
needed. For more information, please visit ITC's website. (itc-ITC)

SOURCE ITC Holdings Corp.

Website: http://www.itc-holdings.com
Contact: Investor/Analyst contact: Gretchen Holloway, +1-248-946-3595;
gholloway@itctransco.com, or Media contact: Robert Doetsch, +1-248-946-3493;
rdoetsch@itctransco.com