Tata Technologies announces ESOPs and preferential allotment for its employees
January 17, 2001

Tata Technologies India Ltd. (Tata Technologies), a global frontrunner in high-end consulting, application implementation and software development services for manufacturers and their partners world-wide, today announced an Employee Stock Option Plan (ESOP) for its employees.

Under the plan, the company has decided to offer its employees with options for up to 10 % of its subscribed equity. The company, which has a strong domain expertise in the automobile and aerospace industries, has also announced the preferential issue of its equity to all the employees.

Making these announcements, Ratan N. Tata, group chairman, said, "We have always believed that our people are our greatest assets. We are keen that they participate as co-owners and help enhance and consolidate the position of Tata Technologies at the high end of engineering automation, enterprise solutions and e-commerce marketplace."

Patrick McGoldrick, CEO and managing director of Tata Technologies, said, "Now, our people will have a chance to participate in the success of the company. This move will also foster an entrepreneurial spirit in all of us and make our goals as employees aligned with those of the shareholders."

The board recommendations to issue preferential shares and ESOPs to employees were ratified by all the shareholders of Tata Technologies India at an extra-ordinary general meeting (EGM) held on January 15, 2001.

About Tata Technologies
Tata Technologies, a member of the $8.8-billion Tata Group, India’s first, best-diversified and most-renowned conglomerate, specializes in providing consulting services on the strategic use of information technology to manufacturers and their partners.

The company specializes in the implementation and use of e-business, Enterprise Resource Planning (ERP), Product Data Management (PDM), Customer Relationship Management (CRM), system integration services, engineering automation and Knowledge- Based Engineering (KBE) systems.

More recently, customers of Tata Technologies have benefited from its Internet-based e-business initiatives, including supplier self service through Tata Technologies’ Value Chain Management software and its B2B portal,  myValueChain.net.

Through its 1,100 IT professionals worldwide and strategic business partners, including SAP, SDRC, Parametric Technologies, Siebel, Oracle, Compaq and Microsoft, the company provides consulting, application implementation and software development services worldwide.

In Asia-Pacific itself, Tata Technologies has completed local and region-wide software implementations in Singapore, China, Japan, Vietnam, Malaysia, Indonesia, Sri Lanka, Thailand, Taiwan and New Zealand for U.S. and for European multinationals like DaimlerChrysler, General Motors, Tata Engineering, Delphi, Singapore Telecommunications, Total Petroleum, Astra Group and ISI Dentsu (Toyota).

Since 1997, when Tata Technologies India was spun-off as a separate entity, its revenue, combined with those of Tata Technologies companies operating abroad, has increased by five times to US$24 million in 2000 from US$ 4.8 million. The professionals employed have increased to 1,100 in 2000.

Since inception, the company has been able to steadily develop a prestigious domestic and international client base and complete important projects within and outside the automobile industry.

These include projects for General Motors, DaimlerChrysler, Delphi, Boeing, Ford, Fiat, Rolls Royce, Oracle, ISI Dentsu, Tata Engineering, TELCON, Bajaj Auto, Lucas TVS, Sona Steering, and VSNL.