The present study aimed to develop the TRIP(transformation induced plasticity) aided high strength low carbon steel sheets using reverse transformation process. The cold-rolled 0.14C-6.5Mn steel was reverse-transformed by slow heating to intercritical temperature region and air cooling to room temperature. An excellant combination of tensile strength and elongation of $98.3kgf/mm^2$ and 44.4% appears. This combination comes from TRIP phenomena of retained austenite during deformation. The stability of retained austenite Is very Important for the good ductility and it depends on diffusion of carbon and manganese during reverse transformation. The air cooling after holding at intercritical temperature retards the formation of pearlite and provides the carbon enrichment in retained austenite, resulting the increase of elongation in cold-roiled TRIP steel.