• FORM 424B4 ITC HOLDINGS CORP. (Prospectus filed pursuant to Rule 424(b)(4)) Filed 10/4/2006

Joint Control Area Operator. Under the functional control of MISO, ITC Transmission and METC operate their electricity transmission systems as a combined control area under the MECS Control Area Agreement. The operation is performed at the Michigan Electric Power Coordination Center, or MEPCC, where employees of ITC Transmission and METC jointly perform the functions as the control area operator which include balancing loads and generation in order to ensure a supply of electricity to customers, maintaining voltage, coordinating the use of ITC Transmission and METC transmission facilities and monitoring the flow on critical facilities to avoid exceeding operating security limits.