Tata Investment - Rights Issue Record Date

Tata Investment Corporation Ltd has informed the Indian stock market that September 17, 2008 has been fixed as the Record date for the purpose of Right Issue.

- Instrument - Zero Coupon Convertible Bond (ZCCB) with detachable warrant.

- Right Ratio - 1 ZCCB with detachable warrant for 5 Equity Shares held on the Record Date.

- Conversion - Each ZCCB will have three parts -

Part 'A' of Rs 300 would be compulsorily converted into 1 equity share of Rs 10 at a price of Rs 300 per share on August 01, 2009.

Part 'B' of Rs 350 would be compulsorily converted into 1 equity share of Rs 10 at a price of Rs 350 per share within 18 months from the date of allotment.

Part 'C' will be a detachable warrant which will entitle the holder to purchase one equity share at a price of Rs 400 per share during the month of April, 2011.