Ms. Janet Craig reports

FORTIS INC. ANNOUNCES COMPLETION OF CFIUS REVIEW OF ITC ACQUISITION

The Committee on Foreign Investment in the United States (CFIUS) has completed its review of Fortis Inc.'s proposed acquisition of ITC Holdings Corp. In correspondence dated July 8, 2016, CFIUS confirmed that there are no unresolved national security concerns with respect to the transaction and that the action under Section 721 of the Defense Protection Act of 1950, as amended, is concluded with respect of this transaction.

Completion of the proposed merger is subject to the following remaining processes: Federal Energy Regulatory Commission approval; United States Federal Trade Commission/Department of Justice approval under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended; approvals from various State regulatory commissions; and the satisfaction of other customary closing conditions.

Both Fortis and ITC have received shareholder approval to proceed with the transaction. The completion of the CFIUS review is another important step in the process. The transaction is expected to close by the end of this year.

We seek Safe Harbor.