Toyota Breaks Ground in San Antonio

Plant President, Visitors Center, Donation Announced

SAN ANTONIO, Oct. 17 -- Toyota Motor Manufacturing, Texas, Inc. (TMMTX) today held a ceremonial groundbreaking and announced the plant's president and plans for a visitors center. Toyota also capped a week of donations totaling $500,000 by presenting a check for $100,000 to the San Antonio Economic Development Foundation.

Top Texas dignitaries and Toyota officials, including Governor Rick Perry and Dr. Shoichiro Toyoda, honorary chairman of Toyota Motor Corporation and son of the company's founder, attended the "Texas Tundra Tailgate Party," complete with all the trappings of a football game in Texas.

"Seventy years ago my father realized a dream by expanding Toyoda Automatic Loom Works into an auto manufacturing company," said Dr. Toyoda. "But in 1933 not even he could envision that his son would one day be standing on a Texas ranch, shovel in hand, about to break ground with 1,000 friends.

"Our concern for the environment will be reflected here in Texas. We plan to treat this land in the same way it was treated by ranching families for many years -- with respect," Dr. Toyoda added. "That is why we will design and operate this facility so that it is among the most environmentally friendly automotive plants in the world."

Texas Governor Rick Perry added: "Texas has been pleased to work with Toyota during the past year as we prepare for the next step in opening this new plant. This project will benefit San Antonio and the entire state, creating new high-paying jobs and improving the life of our citizens. I look forward to building on this relationship more in the coming years."

"This occasion marks a historic day for Toyota, the Alamo City, and the state of Texas. Not only will this plant serve as an economic engine for the San Antonio economy, it also sends a clear signal that Texas is open for business and the welcome mat is out," said Senator Kay Bailey Hutchison. "I am proud to have helped bring Toyota to Texas and will continue my efforts to ensure Toyota gets the best railroad rates possible as we build on this important partnership."

During the ceremony, Dr. Toyoda introduced Hidehiko Tajima as the president of TMMTX. Mr. Tajima, known as "T.J.," brings 25 years of manufacturing knowledge to San Antonio. Since joining Toyota in 1978, Mr. Tajima has held a number of purchasing-related positions with the company, including a stint at Toyota Motor Manufacturing, Kentucky.

Mr. Tajima discussed Toyota's plans to have a visitors center.

"The visitors center will be a place to learn more about Toyota and our manufacturing operations," Mr. Tajima said. "Eventually it will be the starting point for plant tours and available for some community events."

Toyota also concluded a week of donations with a check to the San Antonio Economic Development Foundation. The organization was the fifth non-profit to receive a $100,000 contribution this week, including San Antonio Education Partnership, El Centro Del Barrio, AVANCE and The Carver Academy.

"San Antonio is such a rich and diverse city that we wanted to make contributions to a wide range of organizations," said Dennis Cuneo, senior vice president of Toyota Motor Manufacturing North America, Inc. "These five organizations have consistently produced remarkable results in the areas of economic development, college scholarships, medical services, parenting and early childhood support, and education."

In February 2003, Toyota announced that it had chosen a 2000-acre site in San Antonio to build approximately 150,000 Tundra full size trucks annually, beginning in 2006. The new plant will represent an $800 million investment by Toyota and is expected to bring approximately 2,000 new jobs to Texas and indirectly create work for many more.

Site preparation will begin on the plant site in approximately February 2004, and contractors for the project will be chosen by the middle of next year.