---

Toyota and Republic Reach Framework of Agreement

25 August 1997

Toyota and Republic Reach Framework of Agreement

    DALLAS, Aug. 25 -- The following statement is jointly issued
by Toyota Motor Sales, U.S.A., Inc., and Republic Industries following a
meeting in Dallas today to attempt to resolve the differences between the two
companies.
    "We are very happy that Toyota and Republic have reached the framework of
an agreement that will be mutually beneficial to both companies, while
protecting the interests of customers and dealers."

SOURCE  Toyota Motor Sales, U.S.A.; Republic Industries