Repurchase of Shares

Toyota Motor Corporation
31 August 2001

                                                            August 31, 2001     
                                                   Toyota Motor Corporation     
                                           (Toyota Jidosha Kabushiki Kaisha)    
                                1, Toyota-cho, Toyota City, Aichi Prefecture

Re: Repurchase of Shares

We hereby inform you that Toyota Motor Corporation ('TMC') repurchased its
shares from the market for the purpose of the cancellation of the shares using
its profits as follows pursuant to Article 3 of the 'Law on Special Exceptions
to the Commercial Code Concerning Procedures for Cancellation of Shares'.

1.  Purchase period                     August 2, 2001 through August 30, 2001
2.  Number of shares repurchased        18,962,700 shares
3.  Aggregate purchase price of shares  JPY 74,064,208,000
4.  Method of repurchase                Purchase on the Tokyo Stock Exchange

(Reference)
Details of the authorization given at the Meeting of the Board of Directors
(July 26, 2001)

- Type of shares to be repurchased                Par value shares of common    
                                                  stock of TMC
- Aggregate purchase price of shares              Up to JPY 150,000,000,000
- Aggregate number of shares to be repurchased    Up to 35,000,000 shares

Contact: TMC, Public Affairs at [phone]-6 (Tokyo Head Office) 
                                (0565) 23-1520-4 (Head Office) 
                                [phone]-3 (Nagoya)