Sale of equity shares of Tata Motors Limited

September 18, 2015

London Stock Exchange

London

Dear Sirs/Madam,

Sub: Sale of equity shares of Tata Motors Limited

This is to inform you that the Company based on the review of its portfolio, is proposing to sell equity shares of face value of Rs. 2 each of Tata Motors Limited to institutional investors over the stock exchange for a value not exceeding Rs. 1,250 crore. The price will be discovered through a book building process.

The Company also proposes to sell equity shares of face value of Rs. 2 each of Tata Motors Limited to Tata Sons Limited around the market price through an off-market transaction for a total value not exceeding Rs. 1,250 crore.

This is for your information and records.

Disclaimer

The document contains statements that may constitute as forward looking statements under applicable securities laws and regulations. These statements are based on the current expectations and certain assumptions of Company's management, of which many may not be under our control and that actual transaction may vary from the proposal. The Company neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.

The securities referenced herein will not be registered under the US Securities Act, or any US state securities law and may not be offered or sold in the United States or to US Persons absent registration under the US Securities Act, or pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable US state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy Tata Motors securities, nor shall there be any offer, solicitation or sale by Tata Steel of any such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.