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Hydro One and ITCTransmission Replacing Canadian-U.S. Interconnection Circuit
Restored interconnection to improve electric reliability of both Ontario and Southeast Michigan's transmission systems

Sarnia, Ont. and Marysville, Mich., October 23, 2006 — Hydro One is rebuilding the two-kilometre 230,000-volt interconnection circuit to the U.S. that was removed after gale-force winds brought down a transmission tower in the Sarnia, Ontario area in April, 2003.

"This project will help improve overall supply reliability in Ontario by increasing electricity import/export capacity," said Tom Parkinson, President and CEO, Hydro One. "We're maximizing the effectiveness of our existing high-voltage transmission system. The work is a reflection of Hydro One's commitment to investing in its power delivery system and providing a high level of service."

On October 23, a helicopter will begin stringing new conductor across the St. Clair River to restore a connection linking the Hydro One system to the ITCTransmission grid in Southeast Michigan. The new circuit is expected to be operational by mid-November, and will increase import capacity from ITCTransmission's system to Hydro One by about 100 MW (enough power to serve the average needs of about 30,000 homes) in advance of Ontario's winter's peak demand period.

"As an independent electricity transmission company, ITCTransmission remains 100% focused on improving infrastructure and strengthening the energy market to ensure both the reliable transmission of electricity as well as a robust and competitive energy market," said Joseph L. Welch, president and CEO of ITCTransmission. "This interconnection is a vital component to the electricity infrastructure in the region and one that will provide benefits to both customers in Southeast Michigan as well as those in Ontario."

About Hydro One
Hydro One delivers electricity safely, reliably and responsibly to homes and businesses across the province of Ontario and owns and operates Ontario's 29,000-kilometre high-voltage transmission network that delivers electricity to large industrial customers and municipal utilities, and a 122,000-kilometre low-voltage distribution system that serves about 1.3 million end-use customers and smaller municipal utilities in the province. Hydro One is wholly owned by the Province of Ontario. Our website is www.HydroOne.com.

About ITCTransmission
ITCTransmission, a subsidiary of ITC Holdings Corp. (NYSE: ITC), is the first independently-owned and operated electricity transmission company in the United States. ITCTransmission is in the business of transmitting high voltage electricity from generating facilities in southeastern Michigan, other Midwestern states and Ontario to distribution substations, serving a population of approximately 4.9 million people in an area comprised of 13 southeastern Michigan counties, including the Detroit metropolitan area. Our operating assets consist primarily of approximately 2,700 circuit miles of transmission lines, approximately 17,000 transmission towers and poles and 155 stations and substations. ITCTransmission operates, maintains and invests in the transmission infrastructure in order to improve efficiency in the flow of electricity, enhance system reliability and lower overall delivered energy costs. For more information on ITCTransmission visit www.itctransco.com. For more information on ITC Holdings Corp. visit www.itc-holdings.com.

Contacts
For more information and to make arrangements for photography, contact Hydro One Media Relations 24 hours a day (877-506-7584 (toll-free in Ontario only) or 416-345-6868) or Lisa Aragon, ITCTransmission (248-835-9300 or laragon@itctransco.com).