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Issue of US$300 million senior fixed rate notes due 2021 by TML Holdings Pte. Ltd Press kit

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8 May, 2014

Tata Motors Limited announces that TML Holdings Pte. Ltd. (the "Issuer"), a wholly owned subsidiary of Tata Motors Limited, has yesterday issued and allotted US$300,000,000 in principal amount of 5.75% senior fixed rate notes due 2021 ("Notes"). The net proceeds from the Notes will be used to repurchase certain equity shares issued to Tata Motors Limited and for general corporate purposes. Australia and New Zealand Banking Group Limited, Bank of America Merrill Lynch, Citigroup and HSBC have acted as joint lead managers and joint bookrunners.

Mr Vijay B Somaiya, Head of Treasury & Investor Relations, Tata Motors, said, "The response from investors for the Issue was overwhelming, with the orders aggregating over US$ 2 billion.  We thank the investors for their confidence and support."

This announcement does not constitute nor form a part of any offer or solicitation to purchase or subscribe for securities in Singapore, India or elsewhere. The Notes, when offered, will not be sold or made the subject of an invitation for subscription or purchase, whether directly or indirectly, to any person in Singapore other than (i) to an institutional investor pursuant to Section 274 of the Securities and Futures Act (Chapter 289 of Singapore) ("SFA"), (ii) to a relevant person pursuant to Section 275(1), or any person pursuant to Section 275(1A), and in accordance with the conditions specified in Section 275, of the SFA or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.

The Notes, have not been and will not be sold or made the subject of an invitation for subscription or purchase, whether directly or indirectly, to any person in India.

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state of the United States. Consequently, the Notes may not be offered, sold or otherwise transferred within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state laws. No public offering of the Notes is being or will be made in the United States.

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