ITC Holdings Corp.
ITC Holdings Corp. (Form: 3, Received: 07/25/2005)
FORM 3
        
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Cyrulewski Jim C

2. Date of Event Requiring Statement (MM/DD/YYYY)
7/25/2005 

3. Issuer Name and Ticker or Trading Symbol

ITC Holdings Corp. [ITC]

(Last)        (First)        (Middle)

39500 ORCHARD HILL PLACE, SUITE 200

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                                _____ 10% Owner
__ X __ Officer (give title below)                _____ Other (specify below)
VP Asset Performance /

(Street)

NOVI,MI 48375       

(City)              (State)              (Zip)
5. If Amendment, Date Original Filed (MM/DD/YYYY)

 

6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person


Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock, without par value   33432   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(MM/DD/YYYY)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Options to purchase Common Stock   2/28/2004   2/28/2013   Common Stock, without par value   20060   $7.48   D    
Options to purchase Common Stock   2/28/2005   2/28/2013   Common Stock, without par value   20059   $7.48   D    
Options to purchase Common Stock   2/28/2006   2/28/2013   Common Stock, without par value   20059   $7.48   D    
Options to purchase Common Stock   7/25/2006   7/25/2015   Common Stock, without par value   3344   $23   D    
Options to purchase Common Stock   2/28/2007   2/28/2013   Common Stock, without par value   20059   $7.48   D    
Options to purchase Common Stock   7/25/2007   7/25/2015   Common Stock, without par value   3343   $23   D    
Options to purchase Common Stock   2/28/2008   2/28/2013   Common Stock, without par value   20059   $7.48   D    
Options to purchase Common Stock   7/25/2008   7/25/2015   Common Stock, without par value   3343   $23   D    
Options to purchase Common Stock   7/25/2009   7/25/2015   Common Stock, without par value   3343   $23   D    
Options to purchase Common Stock   7/25/2010   7/25/2015   Common Stock, without par value   3343   $23   D    

Explanation of Responses:

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Cyrulewski Jim C
39500 ORCHARD HILL PLACE
SUITE 200
NOVI, MI 48375


VP Asset Performance
Signatures
Jim D. Cyrulewski 7/25/2005
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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End of Filing
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