Introducing ITC MidwestIntroducing ITC Midwest

Great River Energy’sSouthern Minnesota Member Cooperatives

March 17, 2009Keith Eyler, Account Rep.

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Who is ITC?Who is ITC?

ITC Midwest LLC, a subsidiary of ITC Holdings Corp. (NYSE: ITC), on December 20, 2007, acquired the transmission assets of Interstate Power and Light Company (IP&L), a subsidiary of Alliant Energy.

— Nearly 7,000 miles of lines were transferred

2,270 miles of 34.5 kV lines2,563 miles of 69 kV lines371 miles of 115 kV lines1,401 miles of 161 kV lines195 miles of 345 kV lines170 substations

Transaction valued at approximately $783 million

Required approvals from FERC, Iowa, Minnesota, Illinois and Missouri commissions, and anti-trust review.

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Who is ITC?Who is ITC?

ITC focuses on ownership, operation, maintenance, and construction of transmission facilities as a single line of business.

Customers benefit from transmission investment by:Improved reliabilityReduced congestionIncreased access to generation, including renewable resourcesLower cost of delivered energy

Other benefitsDevelopment of renewable energy productionJobs and economic development

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Where is ITC?Where is ITC?

March 2003: ITC was established (DTE Energy sale of transmission subsidiary ITC Transmission.)

October 2006: ITC closed on acquisition of Michigan Electric Transmission Company, LLC (METC).

December 2007: ITC Midwest LLC acquired the transmission assets of Interstate Power & Light Company (IPL).

Also actively seeking opportunities to build, own, operate and maintain transmission in Kansas, Oklahoma and Texas.

Service Territory MapService Territory Map

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Opened St. Paul, Des Moines, Cedar Rapids and Dubuque offices; sited field/warehouse facilities throughout the service territory

Staffing ITC Midwest— many transferred non-rep. employees

from IPL— Utility Line Construction (ULC) staffing

field roles — ITC, ULC employees average approx. 20

yrs. utility experience

Office locations

Warehouse locations (including Dubuque)

Iowa City

• Albert Lea• Lakefield

Cedar RapidsPerry

• Dubuque

ITC Facilities and StaffingITC Facilities and Staffing

• St. Paul

• Des

Moines

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ITC Midwest Operating RegionsITC Midwest Operating Regions

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Area ITC/ULC leadershipArea ITC/ULC leadership

Bruce Broden- General Jon Lichman- GeneralForeman, North Region Foreman, Central Region

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Area ITC/ULC leadershipArea ITC/ULC leadership

Paul Dilling- Field Kirk Smith- Field

Supervisor, Albert Lea Supervisor, Lakefield

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ITC Equipment, ResourcesITC Equipment, Resources

Albert Lea facility

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ITC Equipment, ResourcesITC Equipment, Resources

100’ Bucket

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Digger/Derrick

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Small Bucket

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Transformer Oil Processing Trailer

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9,000-gal. Transformer Oil Trailer

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Circuit Breaker Oil Trailers

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Crew Foreman Truck

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ITC Equipment, ResourcesITC Equipment, Resources

•F-450 “Hog” Materials Truck

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Patrol ATVs

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Job Trailers

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Looking Ahead- 2009 and beyondLooking Ahead- 2009 and beyond

Rebuild 27 miles of 161kv: Barton Sw. Stn.-to-Adams 345/161/69kv SubRebuild 22 miles of 161kv: Worth Co. Sw. Stn.-to-Hayward 161/69kv SubRebuilding 17 miles of 161kv: Heron Lake-Lakefield Junction Continuing transition of key activities from Alliant Energy-IPL to ITC Midwest:

line and sub maintenance agreementsvegetation management plans

implementing ITC Midwest’s vegetation management planCompleting the scope of ’09 and ’10 projects, increasing Planning horizon and staffing levelsInterconnections:

31 projects in MN under study or in construction2500 MW of new generation in MN

***********************************************************************************************************Replacing Salem and Hazelton Sub transformers (12/10) for increased capacityCompleting Salem-Hazelton 345kv line (12/10) for increased capacityIn Iowa, approx. 800 miles of 34.5kv line will be rebuilt to 69kv, with 126 miles scheduled for 2009

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Green Power ExpressGreen Power Express

Green Power Express

Conceptual Extension

Existing Station Site (unless otherwise noted)

Approximately 3,000 miles of EHV (extra high voltage) 765kV transmission lines

Traverses portions of North Dakota, South Dakota, Minnesota, Iowa, Wisconsin, Illinois and Indiana

Expected cost of approximately $10 - $12 billion

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Increases electric reliabilityFacilitates the movement of approximately 12,000 MW of power from the high efficiency wind abundant areasReduced line lossesMore efficient use of landAvoidance of system congestion According to a study done by CRA International, reduces carbon emissions by approximately up to 34 million metric tons— Equivalent to the annual emissions of about

seven to nine 600 MW coal plants, or nine to eleven million automobiles.

Largely resolves Midwest ISO generation interconnection queue issues for region

Green Power Express BenefitsGreen Power Express Benefits

The Green Power Express would effectively be the energy superhighway for wind

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Best-in-ClassBest-in-Class

ITC aims to be a best-in-class transmission provider as measured by operations, maintenance, customer service and safety.

ITC aims to be a best-in-class transmission provider as measured by operations, maintenance, customer service and safety.

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Thank you for your time today!

Register for additional communications at: www.itctransco.com.

Click on “Partners in Business” and sign up

-Keith Eyler, Account Rep., Stakeholder Relations507-676-2125