ITC Holdings Ends Proposed Transaction

                    ITC Holdings Ends Proposed Transaction

PR Newswire

NOVI, Mich., Dec. 13, 2013

NOVI, Mich., Dec.13, 2013 /PRNewswire/ --ITC Holdings Corp. (NYSE: ITC)
today announced that it and Entergy Corporation have agreed to end their
proposed transaction that would spin off and merge Entergy's electric
transmission business into a subsidiary of ITC. The companies today will make
appropriate filings to terminate regulatory proceedings on outstanding joint

"In light of the decision reached by the Mississippi Public Service Commission
on December 10, the parties have elected to end their pursuit of the
transaction," said Joseph L. Welch, chairman, president and chief executive
officer of ITC. "Since our announcement of this transaction, we have been
diligent in our pursuit of the necessary regulatory approvals that would allow
us to bring the benefits of our independent transmission model, singular focus
and superior performance as a transmission operator to the Entergy region to
deliver value and improved service to customers. I am truly sorry that
customers in this region will not realize the benefitsthat this transaction
would have brought and that they so deserve. We appreciate the support we
received from the Federal Energy Regulatory Commission and various
stakeholders in the Entergy region who recognized and understood the benefits
of the proposed transaction and the value it would create for customers."

Mr. Welch continued, "It also is important to recognize our employees, who
were dedicated in their pursuit of this transaction, while also remaining
focused on executing our stand-alone business plan, which positions us well to
continue to deliver benefits to our customers and shareholders going forward.
Our accomplishments over this period have been significant and are a testament
to our focus, commitment and independent transmission business model. These
accomplishments include the completion of significant capital projects in
Kansas, Oklahoma, Iowa and Michigan; continued operational and reliability
improvements in our existing footprints; and the advancement of the regional
multi-value projects in Michigan, Iowa, Minnesota and Wisconsin. As we have
consistently emphasized, ITC remains well situated to execute our long-term
plans and continues to be a leader in the evolving industry landscape."

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 at (ITC-itc-F)

Safe Harbor Statement
This press release contains certain statements that describe our management's
beliefs concerning future business conditions, plans and prospects, growth
opportunities and the outlook for our business and the electricity
transmission industry based upon information currently available. Such
statements are "forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Wherever possible, we have
identified these forward-looking statements by words such as "will," "may,"
"anticipates," "believes," "intends," "estimates," "expects," "projects" and
similar phrases. These forward-looking statements are based upon assumptions
our management believes are reasonable. Such forward looking statements are
subject to risks and uncertainties which could cause our actual results,
performance and achievements to differ materially from those expressed in, or
implied by, these statements, including, among others, the risks and
uncertainties disclosed in our most recent Annual Report on Form 10-K and our
subsequent Quarterly Reports on Form 10-Q filed with the Securities and
Exchange Commission from time to time.

Because our forward-looking statements are based on estimates and assumptions
that are subject to significant business, economic and competitive
uncertainties, many of which are beyond our control or are subject to change,
actual results could be materially different and any or all of our
forward-looking statements may turn out to be wrong. Forward-looking
statements speak only as of the date made and can be affected by assumptions
we might make or by known or unknown risks and uncertainties. Many factors
mentioned in our discussion in this release and in our annual and quarterly
reports will be important in determining future results. Consequently, we
cannot assure you that our expectations or forecasts expressed in such
forward-looking statements will be achieved. Except as required by law, we
undertake no obligation to publicly update any of our forward-looking or other
statements, whether as a result of new information, future events, or

SOURCE ITC Holdings Corp.

Contact: Investor/Analyst contact: Gretchen Holloway, 248-946-3595;; Media contact: Robert Doetsch, 248-946-3493;
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