TOYOTA IMPORT AND SALES COMPANY ESTABLISHED IN POLAND

Toyota City―TOYOTA MOTOR CORPORATION announced today that Nissho Iwai Corporation, a major Japanese trading company, recently received approval from the Polish government to establish an import and sales company in that country in cooperation with Toyota.

The new company, named Toyota Motor Poland Company Limited, was established in December as a wholly-owned subsidiary of Nissho Iwai. Capitalized at US$500 thousand, and headquartered in Warsaw, the company plans to open 20 sales outlets throughout Poland. Operations are scheduled to begin in February, with sales this year are expected to reach 1700 units.

Poland's movement toward an open market, including the privatization of government businesses and revision of laws to encourage foreign investment is expected to spur economic growth. Nissho Iwai and Toyota have been studying ways to expand sales and improve service in Poland in anticipation of future growth in that country's auto market. The new company will allow Nissho Iwai to provide its Polish customers better and more timely sales and after-sales service.

Nissho Iwai has been exporting the Camry, Carina II, Corolla, and other Toyota models to Polmot, Poland's state-run automobile corporation, since 1980.