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Named Entity Recognition is the task of recognizing Named Entities or Proper Nouns in a document and then classifying them into different categories of Named Entity classes. In this paper we have introduced our modified tool that not only performs Named Entity Recognition (NER) in any of the Natural Languages,performs Corpus Development task i.e. assist in developing Training and Testing document but also solves unknown words problem in NER, handles spurious words and automatically computes Performance Metrics for NER based system i.e. Recall, Precision and F-Measure.