For Immediate Release

April 8, 2003

Toyota Names Executives Under New Management System

Tokyo — TOYOTA MOTOR CORPORATION (TMC) announced today a list of executives (as described below) it plans to put into effect under the new management system that is to be introduced after this year's regularly scheduled general shareholders meeting in June. The new management system and list will be officially finalized at a board of directors meeting following the general shareholders meeting. 1. Members of the Board of Directors (27 people) (Asterisk indicates promotion.)

Name Title under new system Current title Hiroshi Okuda Chairman Chairman Iwao Isomura Vice Chairman Vice Chairman Kosuke Ikebuchi Vice Chairman Vice Chairman Fujio Cho President President Akihiko Saito Executive Vice President Executive Vice President Ryuji Araki Executive Vice President Executive Vice President Yoshio Ishizaka Executive Vice President Executive Vice President Kosuke Shiramizu Executive Vice President Executive Vice President Katsuaki Watanabe Executive Vice President Executive Vice President Kazushi Iwatsuki Executive Vice President Executive Vice President Katsuhiro Nakagawa* Executive Vice President Senior Managing Director Yasuhito Yamauchi Senior Managing Director Senior Managing Director Zenji Yasuda Senior Managing Director Senior Managing Director Takashi Kamio Senior Managing Director Senior Managing Director Hiroyuki Watanabe Senior Managing Director Senior Managing Director Akio Matsubara* Senior Managing Director Managing Director Tokuichi Uranishi* Senior Managing Director Managing Director Kazuo Okamoto* Senior Managing Director Managing Director Kyoji Sasazu* Senior Managing Director Managing Director Mitsuo Kinoshita* Senior Managing Director Managing Director Yoshimi Inaba* Senior Managing Director Director (with Managing Director status) Teruyuki Minoura* Senior Managing Director Managing Director Takeshi Uchiyamada* Senior Managing Director Managing Director Masatami Takimoto* Senior Managing Director Managing Director Akio Toyoda* Senior Managing Director Managing Director Shoichiro Toyoda Honorary Chairman Honorary Chairman Shuhei Toyoda* Director (with Senior Managing Director status) Director (with Managing Director status)

2. Corporate auditors (7 people) (Asterisk indicates new appointee.)

Name Title under new system Current title or company Hideaki Miyahara Corporate Auditor Corporate Auditor Yoshiro Hayashi* Corporate Auditor General Manager, TQM Promotion Division Chiaki Yamaguchi* Corporate Auditor Toyota Financial Services Corporation Yasutaka Okamura Corporate Auditor (outside) Corporate Auditor (outside) Hiroshi Okabe (President, Denso Corporation) Corporate Auditor (outside) Corporate Auditor (outside) Yoichi Kaya* (Director- General, Research Institute of Innovative Technology for the Earth) Corporate Auditor (outside) — Tadashi Ishikawa* (President, Toyota Industries Corporation) Corporate Auditor (outside) —

3. Managing officers (39 people) (Asterisk indicates first time to hold TMC executive post.)

Name Current title and/or company (TMC, unless otherwise stated) Shokichi Yasukawa Director Tetsuo Hattori Director Hiroaki Yoshida Director Kiyoshi Nakanishi Director Yukitoshi Funo Director Takeshi Suzuki Director Atsushi Niimi Director Hajime Wakayama Director Hiroshi Takada Director Teiji Tachibana Director Shinichi Sasaki Director Shin Kanada Director Hironobu Ono Director Akira Okabe Director Yoshio Shirai Director Yoichiro Ichimaru Director Shoji Ikawa Director Masuji Arai Director Koichi Ina Director Yoshikazu Amano Director Shinichi Kawashima Director Kunio Komada Director Akira Sasaki* Project General Manager, China Div., Asia & China Operations Center Takeshi Yoshida* Chief Engineer, Vehicle Development Center 2 Hiroshi Kawakami* General Manager, The Americas Div., The Americas Operations Center Hitoshi Nishiyama* General Manager, Vista channel Operations Div., Vista channel Operations Center Iwao Nihashi* General Manager, Product Engineering Planning Div. Shinzo Kobuki* General Manager, Planning Div. 3, Conversion Vehicle Development Dept., Vehicle Development Center 3; General Manager, LEXUS Planning Div., Vehicle Development Center 1 Tadashi Arashiima* General Manager, Europe Div., Europe & Africa Operations Center Masamoto Maekawa* General Manager, Domestic Marketing Div. Mamoru Furuhashi* General Manager, Tokyo Secretarial Div. Satoshi Ozawa* General Manager, Overseas Planning Div. Seiichi Sudo* Toyota Motor Manufacturing North America, Inc. Yasuhiko Ichihashi* Chief engineer, Vehicle Development Center 2 Tadashi Yamashina* Toyota Technical Center, U.S.A., Inc. Takashi Hata* General Manager, Global Human Resources Div.; General Manager of the Secretariat, Toyota Institute James E. Press* Executive Vice President and Chief Operating Officer, Toyota Motor Sales, U.S.A., Inc. Gary L. Convis* President, Toyota Motor Manufacturing Kentucky, Inc. Alan J. Jones* President, Toyota Motor Manufacturing (UK) Ltd.

4. Retiring directors (9 people)

Name Current title Noritaka Shimizu Executive Vice President Yoshio Uesaka Executive Vice President Toshiaki Taguchi Director (with Executive Vice President status) Tsutomu Tomita Managing Director Yoshito Kato Managing Director Shoji Kondo Managing Director Toshio Mizushima Managing Director Yasuhiko Fukatsu Managing Director Kazutoshi Minami Director

5. Retiring auditors (3 people)

Name Current title Terukazu Inoue Corporate Auditor Yoshiaki Muramatsu Corporate Auditor Yoshitoshi Toyoda (Honorary Chairman, Toyota Industries Corporation) Corporate Auditor (outside)

Copyright 2003 Toyota Motor Corporation. All Rights Reserved.

The information in this release speaks as of the date issued. Toyota Motor Corporation does not, does not intend to, and expressly disclaims any duty to, update or correct such information.

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