INCREASE IN STAKE IN NEW MILLENNIUM CAPITAL CORP.

TATA STEEL INCREASES STAKE IN NEW MILLENNIUM CAPITAL CORPORATION

Mumbai, India - Tata Steel is pleased to announce that its subsidiary Tata Steel Global Minerals Holdings Pte Ltd. ("Tata Steel") has subscribed under the private placement route to 14,285,714 common shares in New Millennium Capital Corp. ("NML" or the "Corporation") at a subscription price of Canadian $1.40 per common share, for aggregate gross proceeds of C$ 20,000,000, subject to TSX Venture Exchange final approval.

After completion of the private placement, Tata Steel holds an aggregate of 40,429,270 common shares, representing 27.4% of the outstanding common shares of NML.

Mr.H.M.Nerurkar, Managing Director of Tata Steel said, "Tata Steel is very pleased with its strategic investment in NML and looks forward to expediting the Direct Shipping Ore (DSO) Project. In more than a century of existence, Tata Steel has always taken a patient long-term approach to creating sustainable value. Tata Steel views its investment in NML as being fully consistent with its proven business strategy."

Mr. Robert Martin, President and CEO of NML stated, "We are delighted that Tata Steel has further increased their investment in NML. Since Tata Steel originally invested in NML in October 2008 they have proven to be a supportive partner and this private placement is a testament to the quality of our relationship. As we await Tata Steel's production decision for our DSO Project, the additional funds raised in the placement ensure that we have ample resources to conclude the last remaining tasks for the DSO Project and also to increase the development efforts for our large Taconite Projects."

The common shares issued to Tata Steel in connection with the private placement will be subject to a four month hold period that expires on October 5, 2010. The net proceeds of the offering will be used to finalise outstanding DSO agreements and environmental work; to initiate gravity and magnetic airborne geophysical surveys; to commence taconite project feasibility; and for general corporate and working capital purposes.

About Tata Steel

Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is among the top ten global steel companies with an annual crude steel capacity of over 28 million tonnes per annum (mtpa). It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries. The Tata Steel Group, with a turnover of US$ 22.8 billion in FY '10, has over 80,000 employees across five continents and is a Fortune 500 company. The Group's vision is to be the world's steel industry benchmark in "Value Creation" and "Corporate Citizenship" through the excellence of its people, its innovative approach and overall conduct. Underpinning this vision is a performance culture committed to aspirational targets, safety and social responsibility, continuous improvement, openness and transparency. In 2008, Tata Steel India became the first integrated steel plant in the world, outside Japan, to be awarded the Deming application Prize 2008 for excellence in Total Quality Management.

About NML

NML, a publicly owned Canadian mining company listed on the TSX Venture Exchange, is engaged in the exploration and development of iron ore properties.  NML controls the emerging Millennium Iron Range, located in the Province of Newfoundland and Labrador and in the Province of Quebec, which holds amongst the world's largest undeveloped magnetic iron ore deposits. In the same area, NML is also advancing to near term production its DSO Project. Tata Steel now owns 27.4% of NML and is NML's largest shareholder and strategic partner. Tata Steel has an exclusive option to participate in the DSO Project, offtake rights for 100% of the production, and an exclusive right to negotiate and settle a proposed transaction in respect of NML's LabMag Project and the KéMag Project. NML's DSO project contains 64.1 million tonnes of Proven and Probable Mineral Reserves at an average grade of 58.8% Fe, 4.6 million tonnes of Measured and Indicated Mineral Resources at an average grade of 58.9% Fe, 7.15 million tonnes of Inferred Resources at an average grade of 55.9% Fe and approximately 40.0 million tonnes of historical resources that are not currently in compliance with NI 43-101. The Millennium Iron Range also hosts two taconite projects: LabMag and KéMag which together contains over 5.6 billion tonnes of Proven and Probable reserves of iron ore of about 30% Fe.

For further information, please visit www.nmlresources.com, www.tatasteel.com and www.corusgroup.com.

Contacts:

Tata Steel Limited

For investor enquiries contact:

Mr. Sandip Biswas

Tel : + 91 22 6665 7328 / 7298

e-mail : [email protected]

Mr. Praveen Sood

Tel : + 91 22 6665 7306

e-mail : [email protected]

For media enquiries contact:

Mr. Sanjay Choudhry

Tel : + 91 657 243 1142

e-mail: [email protected]

Mr. Bob Jones

Tel : +44 20 7717 4532

e-mail: [email protected]