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Newsroom
7/19/2007 | FOR IMMEDIATE RELEASE
ITC Great Plains to Build the North Half of X Plan Transmission Grid in Kansas
Project is a critical economic development initiative for the state
TOPEKA, Kan., July 19, 2007 /PRNewswire-FirstCall via COMTEX News Network/ - ITC Great Plains LLC, a subsidiary of ITC
Holdings Corp. (NYSE: ITC), has advised Southwest Power Pool, Inc. (SPP) of its commitment to construct, own, operate and
maintain the northern portion of SPP's "X Plan." The 180-mile long transmission project calls for the installation of a
transmission line commencing at the Spearville substation located northeast of Dodge City, Kan. and running southeast to
Comanche County, Kan. where ITC Great Plains will construct a new switchyard. The line will then run from the Comanche
County switchyard northeast toward Wichita, Kan.
SPP is responsible for regional transmission planning and coordination in a multi-state area that includes Kansas.
The line will help spur economic development in Kansas, facilitate wind energy, and improve the reliability of the state's
electricity grid. ITC Great Plains anticipates the project will be in service by late 2010 subject to timely receipt of regulatory
approvals.
"We believe that this project supports a number of important initiatives in the state, including Governor Kathleen Sebelius'
vision for greater access to the grid for renewable resources as well as the Kansas Electric Transmission Authority's vision for
a robust transmission grid," said Carl Huslig, president of ITC Great Plains.
About ITC Holdings Corp.
ITC Holdings Corp. (NYSE: ITC) is in the business of electricity transmission infrastructure improvements as a means to
improve electric reliability, reduce congestion and lower the overall cost of delivered energy. Through our operating
subsidiaries, International Transmission Company (ITC Transmission) and Michigan Electric Transmission Company, LLC
(METC), we are the only publicly traded company engaged exclusively in the transmission of electricity in the United States. We
are also the largest independent electric transmission company and the eighth largest electric transmission company in the
country based on electric sales. Our business strategy is to operate, maintain and invest in our transmission infrastructure in
order to enhance system integrity and reliability and to reduce transmission constraints. By pursuing this strategy, we seek to
reduce the overall cost of delivered energy for end-use consumers by providing them with access to electricity from the lowest
cost generation sources. ITC Transmission and METC operate contiguous, fully- regulated, high-voltage systems in Michigan's
Lower Peninsula, an area with a population of approximately 9.8 million people, that transmit electricity to local electricity
distribution facilities from generating stations throughout Michigan and surrounding areas. Subsidiary ITC Grid Development,
LLC expects to focus on partnering with local entities and utilities in regions where significant transmission improvements are
needed. The first region in which ITC Grid Development, LLC expects to focus its efforts is the Great Plains region, specifically
in Kansas, through the formation of its subsidiary ITC Great Plains. For more information on ITC Holdings Corp., please visit
http://www.itc-holdings.com. (itc-ITC)
Safe Harbor Statement
This press release contains certain statements that describe our management's beliefs concerning future business conditions
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
"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 other things the risks and uncertainties disclosed in our annual report on
Form 10-K and our 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. They 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. Actual future results may vary materially. 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 otherwise,
unless required by law.
SOURCE ITC Holdings Corp.
Contact:
Investor/Analyst contact: Pat Wenzel (248.946.3570, pwenzel@itc-holdings.com)
Lisa Aragon, ITC Holdings Corp., 248.835.9300, laragon@itc-holdings.com
Copyright (C) 2007 PR Newswire. All rights reserved
News Provided by COMTEX
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