Price Band for further public issue of EquityShare

PRICE BAND FOR FURTHER PUBLIC ISSUE OF EQUITY SHARES

Mumbai - January 14, 2011

Tata Steel Limited has informed the Stock Exchanges that the Committee of Directors duly authorized by the Board of Directors of the Company by a resolution dated January 14, 2011 fixed a Price Band of Rs. 594 to Rs. 610 per Equity Share for its Further Public Issue of 57 million Ordinary Shares of Rs. 10 each of the Company.

The Anchor Book opens and closes on January 18, 2011. Issue opens on January 19, 2011 and closes on January 21, 2011.

About Tata Steel

Established in 1907, Tata Steel Group is among the top ten global steel companies with an annual crude steel capacity of over 27 million tonnes per annum (mtpa). It is now one of the world's most geographically-diversified steel producers, 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 aspiration targets, safety and social responsibility, continuous improvement, openness and transparency.

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"The Company is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a further public offering of its equity shares and has filed a Red Herring Prospectus with the Registrar of Companies and the Indian stock exchanges. The Red Herring Prospectus is available on the website of the SEBI (www.sebi.gov.in) and the websites of the Book Running Lead Managers (www.investmentbank.kotak.com, www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm, www.db.com/india, www.hsbc.co.in/1/2/corporate/equities-global-investment-banking, www.rbs.in, www.sbicaps.com, www.standardcharteredcapitalmarkets.com). Any potential investor should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the Red Herring Prospectus, including the section titled "Risk Factors".

These materials are not an offer for sale of the shares of the Company in the United States, which shares may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering in the United States or to conduct a public offering of its shares in the United States."