Monday, October 8, 2007

To,
The Editor
Reuters
New Delhi

Denial: Article posted on the web titled "Tata Steel Limited declares dividend"
dated October 5, 2007

Dear Sir,

This is in reference to the article regarding Tata Steel that has been posted on your website titled "Tata Steel Limited declares dividend".

The article reads... "Tata Steel Limited announced that its Board has declared a dividend of INR 15.50 per share (including special dividend of INR 2.50 per share on account of the centenary year) on 608,972,856 ordinary shares of INR 10 each in respect of the period of 12 months ended March 31, 2007"

We would like to clarify that the shareholders' had approved the dividend at the Annual General Meeting held on Aug 29 2007 and not at a Board Meeting held on October 5 2007 as stated in your Article.

Your report is misleading to our investors and shareholders and furthermore, it has been picked up by a few television news channels, adding to the confusion.

Request you to kindly clarify the news on your website, as it is factually incorrect and misleading

Looking forward to your cooperation.

Best regards

Sanjay Choudhry
Chief, Corporate Communications
Tata Steel
Jamshedpur
Ph : +91 657 2431142
       + 91 657 2145512
e-mail : sanjay.choudhry@tatasteel.com