Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.

MUMBAI, October 25, 2005: Tata Motors today reported revenues (net of excise) of Rs.4781.31 crores for the quarter ended September 30, 2005, an increase of 15.3%, compared to Rs. 4145.35 crores in the corresponding period of the previous year. Profit Before Tax was Rs.454 crores, an increase of 6.3% over Rs.427.21 crores, while Net Profit increased by 9.3% to Rs.337.87 crores compared to Rs.309.21 crores. The Operating Margin was 12.05% for the Quarter, as compared to 12.5% in the corresponding period of the previous year.

The sales volume for the Quarter at 107,066 units, grew by 12% over 95,576 units in the corresponding period last year. The company exported 13,994 vehicles during the Quarter, a strong growth of 121% over 6,333 units last year.

Half Year

The company's revenues (net of excise) for the first half of the year 2005-06 was Rs.8644.90 crores, an increase of 12.02%, over Rs.7717.44 crores in the previous year. Profit Before Tax was Rs.814 crores, an increase of 11.46% over Rs.730.30 crores, while Net Profit increased by 14.6% to Rs.610.54 crores compared to Rs.532.57 crores.

The company's sales volume for the first half at 194,558 units, grew by 7.8% over 180,494 units in the corresponding period last year. The newly launched mini-truck, Ace, a common rail engine (DICOR) powered Safari and the high-end Indigo SX range have been received well in the market.

The company exported 23,067 vehicles during the first half, a strong growth of 117.76% over 10,593 vehicles last year.

The Audited Financial Results for the Quarter and Half year ended September 30, 2005, are enclosed.

Figures for the previous period have been regrouped/reclassified wherever necessary.

The Company has allotted 1,45,04,949 Ordinary Shares on August 18, 2005, to the Equity shareholders of erstwhile Tata Finance Limited, as per the Scheme of Amalagamation approved by the Hon'ble High Court of Judicature at Bombay.

During the quarter, the Company funded its indirect subsidiary Tata Technologies US, for an amount of GBP 53.5 Million (Rs.411.42 Crores), for the acquisition of INCAT International PLC., a UK based company, engaged in the business of Product Lifecycle Management, engineering and design, IT software and infrastructure services and solutions.

The above financial results for the quarter/half year ended September 30, 2005 include the results of the operations of Tata Finance Limited (TFL), Telco Dadajee Dhackjee Limited (TDDL) and Suryodaya Capital and Finance (Bombay) Limited (SCFL), for the period April 1, 2005 to September 30, 2005. The comparative figures for the quarter/half year ended September 30, 2004 and for the year ended March 31, 2005 as shown above, do not include the result of the operations of TFL, TDDL and SCFL, and as such, the financial results for the quarter/half year ended September 30, 2005, are not comparable to this extent.

The Company is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles including financing thereof. These, in the context of Accounting Standard 17 on Segment Reporting, issued by the Institute of Chartered Accountants of India, are considered to constitute one single primary segment.

As on July 1, 2005, 1 Investor complaint was outstanding. The Company received 100 complaints during the said quarter and disposed off 29 complaints by September 30, 2005. There were 72 complaints unresolved as on September 30, 2005, out of which 71 complaints pertain to non-receipt of dividend.

The above Results have been reviewed by the Audit Committee of the Board and were taken on record by the Board of Directors at its meeting held on October 25, 2005.

For further press queries please contact Mr Debasis Ray at +91 22 5665 7209 or email at: debasis.ray@tatamotors.com.

All statements contained herein that are not statements of historical fact constitute “forward-looking statements. All statements regarding our expected financial condition and results of operations, business, plans and prospects are forward-looking statements. These forward-looking statements include but are no limited to statements as to our business strategy, our revenue and profitability, planned projects and other matters discussed herein regarding matters that are not historical fact. These forward-looking statements and any other projections (whether made by us or any third party) involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements or other projections. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by or on our behalf.