Isuzu and Toyota Sign Basic Agreement on Business Collaboration

Toyota Motor Corporation to Purchase Shares of Isuzu Motors Limited

TOKYO - November 7, 2006: Isuzu Motors Limited and Toyota Motors Corporation announced today that they have signed a memorandum of understanding stating they will start studying the synergic effects of business collaboration. In the collaboration, the two companies seek to mutually utilize their management resources in the fields of research & development and production, and to supplement each other's technological development.

About Isuzu Motor Limited

Isuzu Motor Limited was established in 1937. Isuzu's principal activities are the manufacture and distribution of automobiles and motor vehicle parts and components. Major divisions are Automobiles (passenger cars, trucks, buses, engines, components and parts for overseas production), Finance (credit services and leasing) and Real Estate.

About Toyota Motor Corporation

Toyota Motor Corporation , established in 1937, is one of the world's representative automobile manufacturers, producing vehicles in 26 countries and regions and marketing vehicles in more than 170 countries and regions. In fiscal 2006, Toyota provided nearly eight million vehicles on a consolidated basis to customers around the world under the Toyota, Lexus, Daihatsu and Hino brands. Toyota had more than 280,000 employees at the end of fiscal 2006. The company is headquartered in Aichi, Japan.