Toyota Puts Down Roots in Indiana as it Breaks
Ground for its Fourth North American Vehicle Plant

Tokyo―TOYOTA MOTOR CORPORATION (TMC) announced that it broke ground yesterday for its fourth North American assembly plant, Toyota Motor Manufacturing, Indiana, Inc. (TMMI). Over three hundred guests and participants gathered at the 1,100 acre site in Gibson County to celebrate the start of construction on the T100 pickup truck plant that will bring about 1,300 new jobs to the area.

TMC President Hiroshi Okuda, and other dignitaries from Toyota and Indiana were joined by Gibson County school children in planting several trees in the newly turned earth, symbolic of the roots that Toyota is putting down in southwest Indiana.

"This T100 plant, like these trees, is being placed in fertile ground," Okuda remarked. "However, for both TMMI and these trees to grow well, it will require nurturing and patience. Toyota is relying on its partnership with the local community to make this plant reach its potential."

Okuda also introduced Seizo Okamoto, the newly appointed president of TMMI. Okamoto brings to this position a wealth of experience in North American manufacturing, most recently as vice president of Toyota Motor Corporate Services of North America, Inc. (TMCS) in charge of production engineering for Toyota's North American affiliates.

Okuda and Okamoto presented a $500,000 gift from Toyota to Gibson County, which will be distributed by the Gibson County Community Foundation to fund charitable activities throughout the county.

Representing the Foundation, Warner Clem, President, Board of Trustees, said, "On behalf of Gibson County, we are truly grateful for Toyota's generous gift. We knew that Toyota would be actively involved as a community benefactor, but we didn't realize that they would begin two years before they produced any trucks. We're thrilled!"

The previous day, Toyota executives, including Okuda, were on hand at Toyota Motor Manufacturing, U.S.A., Inc. (TMM) to celebrate their tenth anniversary in Georgetown, Kentucky. Speaking at the TMMI site, Okuda referred to the success of the Georgetown plant: "I am confident that in the year 2006, ten years from today, we will be talking about the same kind of success right here in Gibson County."

Construction of the 1.6 million square foot plant is expected to cost $700 million and will be completed in time for production to begin in the fall of 1998. Hiring for the plant is planned to begin at the end of 1997. With TMMI's production capacity of 100,000 units per year, Toyota's total vehicle production capacity in North America will rise to 1.2 million^* by 1998 and its direct U.S. employment will grow to over 20,000.