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Tata Power Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 23, 2008, inter alia, have recommended a dividend @ 105% (Rs 10.50 per share) to the shareholders for the year ended March 31, 2008.

Further the Company has informed that the Register of Members & Share Transfer Books of the Company will remain closed from August 21, 2008 to September 10, 2008 for the purpose of payment of dividend and Annual General Meeting (AGM) of the Company to be held on September 10, 2008.

Tata Power Company Ltd has announced the following Audited results for the year ended March 31, 2008:

The Company has posted a net profit after tax of Rs 8699.00 million for the year ended March 31, 2008 as compared to Rs 6968.00 million for the year ended March 31, 2007. Total Income has increased from Rs 50593.10 million for the year ended March 31, 2007 to Rs 63817.50 million for the year ended March 31, 2008.

The Consolidated results are as follows:

The Group has posted a net profit after statutory appropriations of Rs 9964.80 million for the year ended March 31, 2008 as compared to Rs 7367.80 million for the year ended March 31, 2007. Total Income has increased from Rs 67427.10 million for the year ended March 31, 2007 to Rs 113695.10 million for the year ended March 31, 2008.

Tata Power Company Ltd has informed BSE regarding the allotment to Tata Sons Ltd (TSL), on preferential basis of: (A) 98,94,000 Equity Shares of Rs 10/- each and (B) 1,03,89,000 Warrants which would entitle TSL to subscribe to Equity Shares of the Company after April 01, 2008 but not later than 18 months from the date of issue of the Warrants.

The Company has now informed BSE that “In accordance with the said Guidelines, the conversion of Warrants into Equity Shares to be allotted to TSL would not be at a price lower than Rs 1,351.63 per Equity Share, if such right is exercised by TSL. In case of any corporate action such as Rights issue, Bonus issue etc. appropriate adjustments would be made to the number of Equity Shares arising out of Warrants and exercise price thereof, so however that the number of Equity Shares on exercise of Warrants will continue to represent not more than 5% of the enhanced capital at a price not lower than such adjusted price”.

Tata Power Company Ltd has informed BSE that the Company has refinanced the bridge loan taken for the acquisition of 30% equity stakes (the “Purchase”) in major Indonesian thermal coal producers, PT Kaltim Prima Coal (”KPC”) and PT Arutmin Indonesia (”Arutmin”) (together the “Coal Companies”), as well as related trading companies owned by PT Bumi Resources Tbk (”Bumi”). The Company has successfully refinanced USD 850 million out of a total of USD 950 million bridge loan taken at the time of acquisition.

The USD 950 million bridge loan had a tenor of 1 year of which USD 850 million is being refinanced with long-term loans. The refinancing consists of a non- recourse USD 580 million facility and a USD 270 million facility with recourse to the Company.

The Company will evaluate the option of refinancing the balance USD 100 million of the bridge loan at an appropriate time within the residual bridge loan tenor.

In this regards the Company has issued the following Press Release :

“The Tata Power Company Ltd (”Tata Power”), on April 29, 2008, has announced the refinancing of its bridge loan taken for the acquisition of 30% equity stakes (the “Purchase”) in major Indonesian thermal coal producers, PT Kaltim Prima Coal (”KPC”) and PT Arutmin Indonesia (”Arutmin”) (together the “Coal Companies”), as well as related trading companies owned by PT Bumi Resources Tbk (”Bumi”). The Company has successfully refinanced USD 650 million out of a total of USD 950 million bridge loan taken at the time of acquisition.

The USD 950 million bridge loan had a tenor of 1 year of which USD 850 million is being refinanced with long-term loans. The refinancing consists of a non-recourse USD 580 million facility and a USO 270 million facility with recourse to the Company. The non-recourse facility has a door-to-door tenor of 6 years and the recourse facility has a door-to-door tenor of 7 year& The pricing on the facilities is competitive for loans of such nature. The financing has been provided by a group of banks led by 5 mandated lead arrangers including Barclays Capital, Bank of India, ICICI Bank State Bank of India and Sumitomo Mitsui Banking Corporation.

The Company will evaluate the option of refinancing the balance USD 100 million of the bridge loan at an appropriate time within the residual bridge loan tenor.

Speaking on the occasion, Mr. Prasad R Menon, Managing Director, Tata Power said, “We are happy to refinance the bridge loan at competitive pricing in such challenging financial markets. The rising coat prices in the international market reinforce our belief that our investment in Indonesian coal companies is timely and pragmatic”.

The Coal Companies (KPC and Arutmin) are together among the top three largest exporting thermal coal mines in the world. They have excellent co export infrastructure and are strategically well placed to act as a source of supply for increasing regional demand. Together, KPC and Arutmin produced approximately 54.2 MT of coal in 2007. Fast growing regional demand for thermal coal coupled with supply constraints in certain exporting countries has led to sharply higher coal prices. The Coal Companies are ?world class assets? and have enjoyed robust financial performance recently given rising production volumes and the increases in coal prices.”

Tata Power Company Ltd has informed BSE that, on April 24, 2008, the Company completed the signing of financial agreements for the 4000 MW Ultra Mega Power Project coming up at Mundra, Gujarat under the Special Purpose Vehicle Coastal Gujarat Power Ltd. The cost of the project is estimated at INR 17000 crores (USD 4.2 billion) with the first of the five units to be commissioned in September 2011. The entire plant is expected to be commissioned by end of 2012.

A Consortium of Banks including leading multilateral agencies and Exim Banks are participating in the financing of this project. The financing comprises of equity of Rs 4250 crores, External Commercial Borrowings (ECB) of upto USD 1.8 billion and Rupee Loans of upto Rs 5550 crores.

In this regards the Company has issued the following Press Release :

“The Tata Power Company Ltd, on April 24, 2008 has announced the completion of signing of financial agreements for 4000 MW Ultra Mega Power Project (UMPP), coming up at Mundra, Gujarat under the Special Purpose Vehicle (SPV) Coastal Gujarat Power Ltd (CGPL). The cost of the project is estimated at INR 17000 crores (USD 4.2 billion) with the first of the five units to be commissioned in September 2011. The entire plant is expected to be commissioned by end of 2012.

A Consortium of Banks Including leading multilateral agencies and Exim Banks are participating in the financing of this project. The financing comprises of equity of Rs 4250 crores, External Commercial Borrowings (ECB) of upto USD 1.8 billion and Rupee Loans of upto Rs 5550 crores. The ECB?s include The Export-Import Bank of Korea, International Finance Corporation, Korea Export insurance Corporation, Asian Development Bank, BNP Paribas and Rupee lenders Include SBI (Lead bank for rupee lenders), India infrastructure Finance Co Ltd., Housing and Urban Development Corporation Ltd., Oriental Bank of Commerce, Vijaya Bank, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Travancore and State Bank of Indore. SBI Caps are the Financial Advisors and Mandated Lead Arranger for Rupee loans.

Speaking on the occasion, Mr. Prasad N Menon, Managing Director, Tata Power said “The signing of the financing agreements for Mundra UMPP is an important milestone. The good response demonstrates the faith of the lenders in our execution capabilities and expertise to complete the project in time. The terms of debt financing provides us long tenure of loans supporting our competetive bid price assumptions.”

The 4000 MW Mundra Ultra Mega Power Project (UMPP) is the first of the UMPP which heralds the entry of super critical boiler technology In India for the first time which is significantly environment friendly than the conventional ones using sub-critical boiler technology. The project site, approx 1000 Hectares is located south of Tunda Wand village in Mundra Taluka, Kutch district of Gujarat. The project consists of 5 units, each of 800 MW which will generate saleable power of 3800 MW to be supplied to five states namely Gujarat, Maharashtra, Rajasthan, Haryana and Punjab. The super-critical technology and the choice of unit sizes will help the project achieve higher efficiency thus saving fuel and reducing greenhouse gas emissions vis-?-vis conventional technology prevailing in the country.

The Site preparatory works are in progress and orders for all major equipments have been placed. The Company has signed the contract for complete Boiler island scope on EPC basis with Doosan Heavy Industries & Construction Co Ltd., Korea and contract for supply of Steam Turbine Generators with Toshiba Corporation. The project has been comprehensively covered by a seamless Insurance cover by Oriental Insurance Co Lied.

Tata Power Company Ltd on April 07, 2008 has announced that it’s Unit 1 of 2 x 45 MW Phase of Haldia Project was synchronized with grid at 1015 hrs on April 02, 2008. The second unit is scheduled for commissioning later this year.

The Company had acquired the 2 X 45 MW IPP power plant from Hooghly Met Coke & Power Company Ltd (HMC), a 98% subsidiary of Tata Steel Ltd. The plant will utilize coke oven gases to generate power, a part of which will be sold under a PPA to the West Bengal State Electricity Distribution Company Ltd and the remaining traded through Tata Power Trading Company Ltd.

The Company will also set up an additional 30 MW plant to meet the power requirements of
Hooghly Met coke’s operating plants moving forward.