PRESS RELEASE: Norfolk County welcomes Toyotetsu Canada, Inc.

MEDIA RELEASE / Date: March 14, 2006

Norfolk County welcomes Toyotetsu Canada, Inc.

NORFOLK COUNTY - Toyotetsu Canada, Inc., has announced its plans to
construct its first Canadian automotive parts plant in Norfolk County
and local officials are pleased.

"Norfolk County is honoured to be the new home for Toyotetsu Canada,
Inc.," said Rita Kalmbach, Mayor of Norfolk County. "On behalf of the
residents and businesses of Norfolk County, we welcome this wonderful
investment with open arms."

Mayor Kalmbach commended the professionalism, hard work and discretion
of many individuals and agencies that worked on the Toyotetsu Canada,
Inc., file over the past few months. Norfolk Power officials worked with
Norfolk County staff to ensure that utility needs for the site are
satisfactory. Mayor Kalmbach also praised the Stackhouse family, which
cooperated with Norfolk County representatives facilitating the land
assembly. 

Toyotetsu Canada, Inc., is an automotive component supplier that will
provide stamped and assembled parts to Toyota Motor Manufacturing's
existing plant in Cambridge and future plant in Woodstock. The company's
16-hectare (40-acre) site is located in Simcoe, an urban area within
Norfolk County. The start-up plant will be 18,580 square meters (200,000
square feet). Toyotetsu will employ approximately 250 workers during the
start-up year; and its initial investment will be approximately $50
million. Significant growth and expansion is expected within the first
five years of operation.

The Norfolk County site was selected over 40 other possible sites in
Ontario. President Masahiro Nomura said he is very pleased to be coming
to Norfolk County because of its talented work force and the strong
support of the County government. He also noted the quality of life in
the community and was highly impressed with the people living in the
Norfolk County area. It was stated that Toyotetsu Canada, Inc., is
looking forward to growing in the future and wants to be a model
corporate citizen for Norfolk County.

For more information about Norfolk County, go to www.norfolkbusiness.ca
<outbind://2/www.norfolkbusiness.ca>  .

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Contacts: 

Rita Kalmbach, Mayor: 519-426-5870 ext 1224 

Bill Allcock, County Manager: 519-426-5870 ext 1225

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News Release from Toyotetsu America, Inc., March 14, 2006:

Contact: Herb Krase, 606-274-2801

Toyotetsu Canada, Inc. to build plant

Toyotetsu Canada, Inc. is proud to announce the construction of its
first plant in Ontario, Canada.

Toyotetsu is a Tier 1 automotive component supplier who will provide
stamped and assembled parts to Toyota Motor Manufacturing in Cambridge
and Woodstock. The Company's 40 acre site is located in Simcoe, Norfolk
County. The start-up plant will be 18,580 square meters, it will employ
approximately 250 associates during the start-up year; and its initial
investment will be approximately $50.0 million CAD.

The Parent Company of Toyotetsu Canada, Inc. is Toyoda Iron Works, Inc.,
with the Company's Corporate Headquarters in Toyoda City, Japan. Toyoda
Iron Works, Inc. has operations worldwide.

The Norfolk County/Simcoe site was selected over 40 other possible sites
in Ontario. President Masahiro Nomura said he is very pleased to be
coming to the Norfolk County/Simcoe area because of its talented work
force and strong support by the County government. He also noted the
quality of life in the community and was highly impressed with the
people living in the Norfolk County/Simcoe area.

"This investment is one more vote of confidence in Ontario's vibrant and
innovative auto industry," said Ontario Economic Development and Trade
Minister Joe Cordiano. "Toyotetsu's decision to invest in Ontario will
bring great benefits to both the regional economy and to families right
across Ontario."

It was stated that Toyotetsu Canada Inc. is looking forward to growing
in the future and wants to be a model corporate citizen for the Norfolk
County / Simcoe area.

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