October 20, 2003


Toyota breaks ground for new plant in San Antonio

San Antonio, Texas – Toyota Motor Manufacturing, Texas, Inc. (TMMTX) held a
ceremonial groundbreaking on Friday and announced the plant’s president and plans
for a visitors centre. Toyota also capped a week of donations totaling U.S.$500,000
by presenting a check for U.S.$100,000 to the San Antonio Economic Development
Foundation.

Top Texas dignitaries and Toyota officials, including Governor Rick Perry and Dr.
Shoichiro Toyoda, honorary chairman of Toyota Motor Corporation and son of the
company’s founder, attended the “Texas Tundra Tailgate Party,” complete with all the
trappings of a football game in Texas.

“Seventy years ago my father realized a dream by expanding Toyoda Automatic Loom
Works into an auto manufacturing company,” said Dr. Toyoda. “But in 1933 not even he
could envision that his son would one day be standing on a Texas ranch, shovel in
hand, about to break ground with 1,000 friends.

“Our concern for the environment will be reflected here in Texas. We plan to treat
this land in the same way it was treated by ranching families for many years — with
respect,” Dr. Toyoda added. “That is why we will design and operate this facility so
that it is among the most environmentally friendly automotive plants in the world.”

Texas Governor Rick Perry added: “Texas has been pleased to work with Toyota during
the past year as we prepare for the next step in opening this new plant. This
project will benefit San Antonio and the entire state, creating new high-paying jobs
and improving the life of our citizens. I look forward to building on this
relationship more in the coming years.”

“This occasion marks a historic day for Toyota, the Alamo City, and the state of
Texas. Not only will this plant serve as an economic engine for the San Antonio
economy, it also sends a clear signal that Texas is open for business and the
welcome mat is out,” said Senator Kay Bailey Hutchison. “I am proud to have helped
bring Toyota to Texas and will continue my efforts to ensure Toyota gets the best
railroad rates possible as we build on this important partnership.”

During the ceremony, Dr. Toyoda introduced Hidehiko Tajima as the president of
TMMTX. Mr. Tajima, known as “T.J.,” brings 25 years of manufacturing knowledge to
San Antonio. Since joining Toyota in 1978, Mr. Tajima has held a number of
purchasing-related positions with the company, including a stint at Toyota Motor
Manufacturing, Kentucky.

In February 2003, Toyota announced that it had chosen a 2000-acre site in San
Antonio to build approximately 150,000 Tundra full size trucks annually, beginning
in 2006. The new plant will represent a U.S.$800 million investment by Toyota and is
expected to bring approximately 2,000 new jobs to Texas and indirectly create work
for many more.

Site preparation will begin on the plant site in approximately February 2004, and
contractors for the project will be chosen by the middle of next year.

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