Tata Steel, in accordance with its founding principles, will continue to improve the quality of life of its employees and the communities it serves.

Tata Steel will conduct its business ever mindful of its social accountability, respecting applicable laws and with regard for human dignity.

Tata Steel will positively impact and influence its partners in fostering a sense of social commitment for their stakeholders.

Date: 20 th December, 2003
	B. MUTHURAMAN Managing Director