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Marjorie Fleming
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1 THE TATA IRON AND STEEL COMPANY LIMITED Regd. Office: BOMBAY HOUSE, 24 HOMI MODY STREET, MUMBAI Audited Financial Results for the Quarter/Year Ended 31 st March, 2005 Nine Mths Quarter Correspding Financial Previous quarter ended Year ended Financial Year ended in the Previous year (Unaudited) (1) (2) (3) (4) (5) (A) 1 Steel Producti Tnes 3,093, ,353 1,032,366 4,074,279 4,076,457 2 Steel Sales " 2,903,036 1,010,336 1,053,333 3,913,372 3,961,532 3 Export Turnover (F.O.B. Value) Rs. Crores 1, , , US $ Mill (B) 1 Sales/Income from Operatis Rs. Crores 11, , , , , Less: Excise Duty " , , Net Sales/Income from Operatis " 10, , , , , Total Expenditure a) (Increase) /decrease in stock in trade " (408.48) (289.55) (80.31) b) Purchase of finished, semi-finished steel and other products " , c) Raw materials csumed " 1, , , d) Staff Cost " , , e) Purchase of Power " f) Freight and handling " g) Other " 1, , ,276.31

2 Expenditure h) Total Expenditure (2a to 2g) " 6, , , , , Operating Profit " 4, , , , , Other Income " Interest (net) " (71.02) Depreciati " Profit before Tax and Exceptial Items ( ) " 4, , , , , Exceptial Items a) Employee Separati Compensati " (80.86) (38.25) (138.20) (119.11) (230.83) b) Profit sale of lg term investments " (0.24) c) Total of Exceptial items (8a+8b) " (52.28) (38.25) (138.44) (90.53) (222.68) 9 Profit before Tax(7-8c) " 4, , , , Provisi for Current Taxati " 1, , Provisi for Deferred Taxati " (29.49) 3.19 (10.54) (0.26) 12 Net Profit (+) / Loss (-) ( ) " 2, , , Paid-up Equity Share Capital (Face Value : Rs 10 per Share) " Reserves excluding revaluati reserves " 7, , Basic and Diluted Earnings per Rupees

3 Share (not annualised) (after Exceptial items) 16 Aggregate of N-promoter Shareholding Number of shares Nos. 406,501, ,463, ,966, ,463, ,966,962 % of shareholding % 73.45% 73.44% 73.71% 73.44% 73.71% NOTES: 1. Segment Revenue, Results and Capital Employed (Rs. Crores) Particulars Quarter Correspding Quarter in Financial Year ended Previous Financial Year the previous year (Unaudited) ended Revenue by Business Segment Steel business 3, , , , Ferro Alloys & Minerals , Others Total 4, , , , Less: Inter segment revenue Net Sales/ Income from operatis 3, , , , Segment results before interest, exceptial items and tax Steel business 1, , , Ferro Alloys & Minerals Others Total 1, , , , Less: Interest 9.44 (71.02)

4 Other unallocable (income) /expenditure (5.11) (7.82) (70.28) (40.25) Profit before Tax and Exceptial Items 1, , , , Exceptial items Employees Separati Compensati (38.25) (138.20) (119.11) (230.83) Profit Sale of Lg Term Investments - (0.24) Profit before Tax 1, , , Less: Taxes , Profit after Tax , Segment Capital Employed Steel business 9, , , , Ferro Alloys & Minerals Others Total 9, , , , In accordance with the provisis of Accounting Standard AS-28, introduced with effect from 1st April 2004, the company has, that date, made an adjustment of Rs crores against the opening balance of the general reserve account of impairment of assets. 3. The Company has, 12th August 2004, issued Bus Shares in the ratio 1:2. The Earnings per Share (EPS) for the previous periods under column (3) and (5) have been recomputed in accordance with the Accounting Standard AS G Blast furnace was shutdown for upgradati December 3, The upgraded furnace was recommissied April 6, The Company and West Bengal Industrial Development Corporati (WBIDC) have signed the joint venture agreement and formed a joint venture company Hooghly Met Coke & Power Co Ltd (HMCPCL) to set up a Coke Oven Plant at Haldia. 6. The Company, February 15, 2005, has acquired 100% equity of Natsteel Asia Pte Ltd, Singapore which has steel assets in Singapore, Thailand, Vietnam, Philippines, Australia and China. 7. Informati investor complaints pursuant to clause 41 of the listing agreement for the quarter ended. Opening balance Received during the quarter Resolved during the quarter Closing balance Figures for the previous periods have been regrouped and reclassified to cform to the classificati of the current period, wherever necessary.

5 9. The Board of Directors has approved the change of name of the Company to Tata Steel Limited subject to the approvals of the Registrar of Companies, Maharashtra, Mumbai and the shareholders. 10. The above results have been taken record by the Board of Directors of the Company in its meeting of date. 11. The Board of Directors has recommended a dividend of 130 % for the financial year The Annual General Meeting of the Company will be held 27th July, 2005 to csider the Accounts for financial year THE TATA IRON & STEEL COMPANY LIMITED Mumbai, 19th May, 2005 Sd/- Ratan N. Tata Chairman THE TATA IRON AND STEEL COMPANY LIMITED Regd. Office: BOMBAY HOUSE, 24 HOMI MODY STREET, MUMBAI Audited Csolidated Financial Results for the Year Ended 31 st March, 2005 Financial Year Previous Financial Year Sales/Income from Operatis Rs. Crores 17, , Less: Excise Duty " 1, , Net Sales/Income from Operatis " 15, , Total Expenditure a) (Increase) /decrease in stock in trade " (282.75) (123.99) b) Purchase of finished, semi-finished steel and other products " 2, c) Raw materials csumed " 1, , d) Staff Cost " 1, , e) Purchase of Power " f) Freight and handling " g) Other Expenditure " 2, , h) Total Expenditure ( 2a to 2g) " 9, , Operating Profit " 6, , Other Income " Interest (net) " Depreciati " Profit before Tax and Exceptial Items ( ) " 5, , Exceptial Items a) Employee Separati Compensati " (120.57) (233.90) b) Profit /(loss) divestments " c) Liability written back "

6 d) Provisi for ctingencies " (0.80) (1.96) e) Total of Exceptial items( 8a to 8d) " (97.68) (210.41) 9 Profit before Tax ( 7-8e) " 5, , Provisi for Current Taxati " 1, Provisi for Deferred Taxati " (3.85) (0.92) 12 Net Profit (+) / Loss (-) ( ) " 3, , Share of income in Associates " Minority Interest in csolidated Profit/(Loss) " Profits after Minority Interest and share of Profits of Associates ( ) 16 Paid-up Equity Share Capital ( Face Value : Rs 10 per Share ) " 3, , " Reserves excluding revaluati reserves " 4, Basic and Diluted Earnings per Share ( after exceptial items) Rupees Notes Csolidated Financial Results for the year ended 31st March 2005: The following Subsidiaries, Associates and Joint Ventures have been csidered for the purpose of preparing Csolidated Financial Statements as per Accounting Standards a) Csolidated Financial Statements (AS-21) b) Accounting for Investments in Associates in Csolidated Financial Statements (AS-23) c) Financial Reporting of interests in Joint Ventures (AS-27) Name of the Company Ownership in % either directly or through Subsidiaries Country of incorporati Subsidiaries: 1) Best Bar (VIC) Pte. Limited Australia 2) Best Bar Pty. Limited Australia 3) Burwill Trading Pte. Limited Singapore 4) Eastel Cstructi Services Pte. Limited Singapore 5) Eastel Services (M) Sdn Bhd Malaysia 6) Eastern Steel Fabricators Philippines Inc Philippines 7) Eastern Steel Services Pte. Limited Singapore 8) Eastern Wire Pte. Limited Singapore 9) EW Reinforcement Pty. Limited Australia 10) Hooghly Met Coke & Power Limited India 11) Internatial Shipping Logistics FZE Dubai 12) Jamshedpur Utilities and Services Company Limited India 13) Kalimati Investment Company Limited India 14) Lanka Special Steels Limited Sri Lanka 15) Materials Recycling Pte. Limited Singapore

7 16) NatFerrous Pte. Limited Singapore 17) NatSteel Asia (S) Pte. Limited Singapore 18) NatSteel Asia Pte. Limited Singapore 19) NatSteel Equity IV Pte. Limited Singapore 20) NatSteel Trade Internatial (Shanghai) Co.Limited China 21) NatSteel Trade Internatial Pte. Limited Singapore 22) PT Materials Recycling Indesia Indesia 23) Siam Industrial Wire Company Limited Thailand 24) Sila Eastern Limited Thailand 25) Tata Incorporated USA 26) Tata Korf Engineering Services Limited India 27) Tata Refractories Limited India 28) The Indian Steel & Wire Products Limited India 29) The Tata Pigments Limited India 30) TKM Transport Management Services Limited India 31) TM Internatial Logistics Limited India 32) Wuxi Jinyang Metal Products Co. Limited China Associates: 1) Almora Magnesite Limited India 2) Jamshedpur Injecti Powder Limited India 3) NatSteel Vina Co. Limited Vietnam 4) Rujuvalika Investments Limited India 5) Southern NatSteel (Xiamen) Limited China 6) Southern Steel Berhad Malaysia 7) Steel Asia Development and Management Corporati Philippines 8) Steel Asia Industries Inc Philippines 9) Steel Asia Manufacturing Corporati Philippines 10) Tata Spge Ir Limited India 11) Tata Metaliks Limited India 12) TAYO Rolls Limited India 13) Tinplate Company of India Limited India 14) TKM Overseas Limited UK 15) TRF Limited India Joint Ventures: 1) Metaljuncti Services Limited India 2) Tata Ryers Limited India The Csolidated Financial results have been taken record by the Board of Directors of the Company in its meeting of date. Mumbai, 19th May, 2005 Sd/- Ratan N. Tata Chairman

TATA STEEL LIMITED Bombay House, 24 Homi Mody Street,Fort, Mumbai Tel Fax / 25

TATA STEEL LIMITED Bombay House, 24 Homi Mody Street,Fort, Mumbai Tel Fax / 25 PART I 1 2 `Crores Audited Audited Audited Audited Audited Audited a) Net sales / income from operations (net of excise duty) 9,034.20 8,820.19 8,142.19 17,854.39 15,934.39 33,614.88 b) Other operating