Tata Steel - Acquisition Of Corus Group Plc, UK

Tata Steel Ltd has announced that on October 20, 2006, the Company announced a cash offer of 455 pence per share for Corus Group Plc. (Corus), valuing it at GBP 4.3 billion. Further, on December 11, 2006, the Company announced the terms of a revised offer for Corus at 500 pence per share, valuing it at GBP 4.7 billion.On conclusion of the auction process conducted by the UK Takeover Panel on January 31, 2007, for the acquisition of Corus, the Company has agreed the terms of an increased acquisition (the Revised Acquisition), at a price of 608 pence per share in cash for acquisition of Corus. The terms of the Revised Acquisition value the entire existing issued and to be issued ordinary share capital of Corus at approximately GBP 6.2 billion. The revised offer of the Company is higher by 5 pence than the final offer made by Companhia Siderurgica Nacional (CSN) in the auction.3. Implementation Agreement and Inducement FeeThe Implementation Agreement as described in the Scheme Document remains in effect. The amount of the Inducement Fee referred to in the Implementation Agreement is 1 per cent of the value of the recommended offer announced by the Company and Corns at December 10, 2006 calculated by reference to the price per Corus Share and the fully diluted share capital of Corus, together with an amount equal to any VAT which is recoverable by Corus (if applicable).4. Disclosure of interests in CorusTata Ltd, a majority-owned subsidiary of Tata Sons, holds 2,125 Corus Shares. Since CorusShares held either by members of the Tata Steel Group or by Tata Ltd are excluded from thedefinition of Scheme Shares, the Company will not be entitled to vote these Shares at the Court Meeting.The interests of the Deutsche Bank Group consist of as at January 26, 2007, a long position