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Tata Motors Limited launches QIP Issue Press kit

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1 October, 2010

Tata Motors Limited (“Tata Motors”) has launched today an issue of Ordinary Shares and ‘A’ Ordinary Shares through the Qualified Institutional Placement (QIP) route, for a base amount of US$525 million, comprising of US$200 million of Ordinary Shares and US$325 million of ‘A’ Ordinary Shares, with an option to upsize the ‘A’ Ordinary Shares to US$400 million. The said issue is being carried out in accordance with the authority accorded by the shareholders of the company vide postal ballot dated August 10, 2010. These shares are proposed to be listed on both the Bombay Stock Exchange and the National Stock Exchange.

Citigroup Global Markets India Private Limited and Credit Suisse Securities (India) Private Limited are acting as the Book Running Lead Managers for the Offering.

Tata Motors intends to use the proceeds primarily for its debt reduction program, capital expenditure, long term working capital requirements, growth objectives, general corporate purposes and any other purposes as may be permissible under applicable law.

NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA

This press release is not an offer for sale within the United States of any equity shares or any other security of the Company. The securities of the Company have not been and will not be registered under the U.S. Securities Act 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. Persons, absent registration under the U.S. Securities Act or an exemption from such registration. There will be no public offering of the securities referred to herein in the United States.

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