Re Joint Venture

We wish to inform you that Tata Global Beverages Limited has entered into a Joint Venture with Starbucks group whereby, the newly formed Joint Venture Company Tata Starbucks Limited shall engage in the operation of Starbucks Cafés. The parties have signed the Joint Venture Agreement on 30th January 2012 which sets forth the vision of developing the business in India. Each party will hold 50% of the JV.