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1. ITCTransmission and METC: In Michigan, both ITCTransmission and Michigan Electric Transmission Company (METC) operate as wholly-owned subsidiaries of ITC Holdings Corp. Based in Novi, Mich., these companies own, operate and maintain approximately 8,300 combined circuit miles of transmission lines in southeast Michigan and the western and northern parts of Michigan's Lower Peninsula, serving a population of 10 million.

2. ITC Midwest: ITC Midwest is a wholly-owned subsidiary of ITC Holdings Corp. Based in Cedar Rapids, Iowa, ITC Midwest operates and maintains approximately 7,400 circuit miles of transmission lines in Iowa, Minnesota, Illinois and Missouri. ITC Midwest also maintains operating locations in Dubuque, Iowa City and Perry, Iowa; and Albert Lea and Lakefield, Minnesota.

3. ITC Great Plains: ITC Great Plains, a subsidiary of ITC Grid Development, is a transmission-only utility that seeks to provide non-discriminatory access to reliable, competitive and low-cost energy throughout the Southwest Power Pool region. Based in Topeka, Kansas, ITC Great Plains has three active transmission construction projects in Kansas and Oklahoma and is advancing other important development projects in the region.

WIDE-REACHING INVESTMENTS

ITC continues to invest in electric transmission infrastructure for the public good, resulting in improved reliability, reduced system congestion and greater access to competitive energy markets.

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Excellence in Safety

Safety is integral to ITC's culture of operational excellence. Amid our challenging capital and maintenance initiatives, we were able to sustain a safe work environment for our employees and contractors. The most recently available data from the Edison Electrical Institute (EEI) Safety Survey is depicted above (2010 survey). We expect our 2011 safety results to once again be excellent in comparison to the industry.

Interconnections

Whether the industry relies more on nuclear, coal, renewables or other energy sources, a robust transmission grid that integrates these resources at their origin facilitates the most efficient use of energy for customers. ITC provides open and non-discriminatory access to the transmission grid for the benefit of all.

ITC's operating practices are rooted in safety and reliability – two pillars of excellence at the foundation of our transmission-only model.

Our independent model provides a singular focus on transmission-system performance, planning and operations. ITC's financial and strategic efforts center on delivering a reliable and efficient electric transmission grid to meet the needs of the customers we serve.

ITC invests in transmission infrastructure to:

Improve system reliability
Expand access to energy markets
Lower the overall cost of delivered energy
Allow new generating resources to interconnect to the power grid
Support national energy independence and security

We track our operational performance alongside industry peers through participation in the annual SGS Benchmarking Study. The most recent study showed that our Michigan subsidiaries ranked within the top 10 percent of best performers with respect to sustained outages. We also saw some significant improvements in system performance and restoration at ITC Midwest in 2011, with the fewest sustained outages recorded since we have owned the system. Trending data shows that the longer we own a system, the better its performance.

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Our capital investment and maintenance plans drive this solid performance. The graph at left shows that ITC invests far more in preventive maintenance than in reactive maintenance. Basically, we are fixing things before they can break. This results in improved safety and reliability and supports our operational excellence objectives.