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TATA MOTORS’ SHARE ISSUE SUCCESSFULLY COMPLETED – ISSUE SUBSCRIBED 3.4 TIMES Press kit

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12 October, 2010

Tata Motors has successfully completed its issue of shares aggregating US$ 750 million, comprising Ordinary Shares aggregating US$ 550 million and Ordinary Shares aggregating US$ 200 million.

It may be recalled that Tata Motors announced the offering of Ordinary Shares and Ordinary Shares aggregating US$ 325 million and US$ 200 million, respectively on October 1, 2010. Pursuant to an overwhelming response from investors across India and internationally with a book size aggregating US$ 1.85 billion, the Company decided on October 4, 2010 to upsize the issue to US$ 550 million of Ordinary Shares and US$ 200 million of Ordinary Shares.

A duly authorised Committee of the Board of Directors of the Company (the ‘Committee’) at its meeting held on October 11, 2010, decided to issue and allot 32,165,000 Ordinary Shares at a price of 764 per Ordinary Share (including a premium of 754 per Ordinary Share) and 8,320,300 Ordinary Shares at a price of 1,074 per Ordinary Share (including a premium of 1,064 per Ordinary Share) aggregating to a total issue size of 33,510.06 million, pursuant to a qualified institutions placement under the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (‘SEBI ICDR Regulations’) to Qualified Institutional Buyers (‘QIBs’) as defined under 2(1)(zd) of the SEBI ICDR Regulations (the ‘Issue’).

Citigroup Global Markets India Private Limited and Credit Suisse Securities (India) Private Limited were the Book Running Lead Managers for the Issue.

Mr C Ramakrishnan, Chief Financial Officer, Tata Motors, said, ‘The response is a reflection of the market confidence in the underlying performance and outlook of Tata Motors’ Group, including Jaguar and Land Rover, and we are very grateful for the faith reposed by the investors. This is another major milestone in our financing strategy and balance sheet de-leveraging.’

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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