oTAJHotels Resorts

and Palaces

Sales & Marketing Office, The Americas99 Park Avenue, 10th Floor, New York, NY 10016-1601, USA

email: tajhotels@aol.com Fax: (212) 515-5851

VCONTACT: Meghna Patel/Leslie Cohen

Laura Davidson Public RelationsTel: 212-696-0660E-mail: meghna@ldpr.com

TAJ HOTELS, RESORTS & PALACES ANNOUNCES PROJECT TORESTORE ONE OF THE SEVEN WONDERS OF THE WORLD

* * Taj Mahal Preservation Project Begins in April * *

BOMBAY, INDIA (March 12, 2002)-Taj Hotels, Resorts & Palaces, India's oldest and

finest hotel group, has announced that it will be part of a major joint venture with the National

Culture Fund of India (NCF), and the Archeological Survey of India (ASI) to support the

restoration, conservation and preservation of the Taj Mahal Monument in Agra.

As the only private sector company involved in this restoration project, Taj Hotels,

which celebrates its centenary in 2003, is reinforcing its commitment to preserving India's

heritage. "We are immensely proud to be working with the government on this prestigious

project," said Ravi Dubey, Senior Vice President- Corporate Affairs, Taj Hotels, Resorts and

Palaces. "This project presents a unique opportunity to assist with the preservation of our

national heritage and one of the world's most recognized monuments," he added.

The project (research on which began in October 2001) will commence on site in

April 2002 and is expected to take three to five years to complete. In September 2001, an

advisory panel of Indian and international experts was formed to define priorities and propose

the strategies. The project has four major components - the monument and its ancillary

structures, the gardens, the museums as well as a visitor facilitation center and a site

management plan. This immense undertaking will cover everything from the restoration of

the entrance gateway, to the repair and restoration of the damaged stone cladding and intricate

inlay on the Eastern and Northern walls of the complex.

-more-

A

THE TAJ GROUP. INDIA'S first. SOUTH ASIA'S finest.A TATA ENTERPRISE

Taj Hotels. Resorts and Palaces announces Taj Mahal restoration project Page 2

The Taj Mahal was built in 1648 in Agra, the capital of the Mughal monarchs, by one

of the greatest Mughal builders, the Emperor Shah Jehan. Built as a mausoleum in loving

memory of his wife Mumtaz Mahal, the Taj Mahal is India's and one of the world's most

visited monuments. The Taj Mahal is amongst the first sites in India to be declared a World

Heritage Site by UNESCO and has in the last 20 years attracted global concern for its

protection from the impact of industrial development and a failing infrastructure.

International experts and institutions specializing in fields of Mughal art, architecture

and gardens are represented on the advisory panel. Among them is Rahul J. Mehrotra-

architect and chief consultant to the project; Sir Bernard Fieldon, an authority on architectural

conservation and the management of world cultural heritage sites; Dr. Ebba Koch, a specialist

on Mughal art and architecture; Dr. James Wescoat, a specialist in the design and

conservation of Mughal gardens; Dr. Milo Beach, an expert in museum design; and Mr.

Martand Singh, who will lend his expertise in Indian design. In addition, international

institutes such as the Getty Conservation Institute represented by head of projects, Mr.

Francois LeBlanc, and the World Monuments Fund are also on the advisory board.

The Taj Group has played a unique role in the preservation of India's heritage as

evidenced by its association with such renowned private properties as the Lake Palace in

Udaipur, the Rambagh Palace and Jai Mahal Palace in Jaipur. All these are heritage palace

properties, which the Taj operates as luxury hotels. The latest palace project is the Falaknuma

Palace in the 400-year old city of Hyderabad. The palace, which is being restored to its

original glory, will join the other exquisite residences of India's former maharajas to become

another shining star in the Taj portfolio of palace hotels.

Many of the hotels in the Taj Group also have an equally impressive heritage and

history. The Taj Connemara in Madras - the official residence of Lord Connemara and now a

Taj hotel is 165 years old. The Savoy, a Taj Garden Retreat in Ootacamund, Southern India,

is 150 years old and was previously a school. The Taj West End in Bangalore, originally built

in 1872 and operated as a lodge, is today a Taj Luxury Hotel and a member of The Leading

Hotels of the World.

-more-

Taj Hotels. Resorts and Palaces announces Taj Mahal restoration project Page 3

In addition, The Taj Mahal, Bombay and most other Taj hotels house a rare collection

of antiques and artifacts.

Taj Hotels, Resorts and Palaces comprises 50 properties in 34 locations throughout

India, and an additional 12 properties in nine key international destinations outside India. Taj

properties include luxury hotels, business hotels, beach resorts, palaces, garden retreats and

cultural center hotels. Each offers world-class service and cuisine, coupled with an unrivaled

fusion of Indian heritage, business services and modern luxuries.

For more information, visit the Taj Web site at: www.tajhotels.com.

Mil II

TTTTTr