Toyota Thailand Restructures its Management

Bangkok--Sep 17--Toyota Motor Thailand Mr.Ryoichi Sasaki, President of Toyota Motor Thailand Co., ltd. is pleased announce a restructuring of the Company's Executive Positions inn preparation for the expansion plan and its development towards becoming the center of the automobile industry in the region. These changes are as follows 1. Mr. Ninnart Chaithirapinyo, currently Executive Vice President to Marketing, will be appointed to the position of Vice Chaiman of the Board, maintaining a full-time position and closely working with the President on corporate policy formation and the overall management of the company. 2. Mr. Paiboon Waiquamdee is appointed Executive Vice President, responsible for the Marketing Division and member of the Board of Directors. Thus, the Board of Directors will consist of seven Thai members and eight japanese members, bringing the total number of board members to 15, an increase of one. Mr. Paiboon Waiquamdee received his Bachelor Degree in Mechanical Engineering from Chulaiongkorn University and Masters Degree in Industrial & Operations Engineering from University of Michigan. He also earned a Masters Degree in Business Administration Finance University of Pennsylvania. Prior to his appointment, he has over 24 years of experience serving Siam Cement Public Co., ltd as top executive in Siam United Steel Co., Cementthai Property Co., S.I.L Industrial Land Co., Rayong Industrial Land Co., R.I.L. 1996 Co. His most recent position has been Vice President of Cementthai Property Co., the Affiliate Company of Siam Cement Public Co. 3. The following titles of the new management team have been reorganized as appropriate: Previous Positions New Positions president President Executive Vice President (EVP) Executive Vice President (EVP) Director/Associate Director Vice President (VP) In order to maximize the efficiency and the dynamics of the Company's management team, in accordance with the strategy of " Thais for Excellence", the company has clearly separated its operating management team from its policy-making body-the Board of Directors. The new management structure will take effect October 1, 2001, in line with the rapidly changing business environment in this age of globalization According to Mr. Sasaki, "These change will open our company to new ideas and management methods in addition to further implementing "Management by Thais" and "Thai For Excellence" strategies. Member of Board of Directors -Mr. Pramon Sutivong Director---Chairman -Mr. Ninnart Chithirapinyo Director---Vice Chairman -Mr. Ryoichi Sasaki Director---President -Mr. Hiroshi Koishihara Director -Mr. Masaki Nakatsugawa Director -Mr. Paiboon Waiquamdee Director -Mr. Yasuhiro Yomoda Director -Mr. Ekachai Ratanachaiwong Director -Mr. Suparat Sirisuwannangkura Director -Mr. Mingkwan Sangsuwan Director -Mr. Minoru Yoshida Director -Mr. Ryuji Araki Director -Mr. Kosuke Shiramizu Director -mr. Akio Toyoda Director -Ms. Chalaluck Bunnag Director TMT Management -Mr. Ryoichi Sasaki President -Mr. Ninnart Chithirapinyo Vice Chairman -Mr. Hiroshi Koishihara Executive Vice President -Mr. Masaki Nakatsugawa Executive Vice President -Mr. Paiboon Waiquamdee Executive Vice President -Mr. Ekachai Ratanachaiwong Vice President -Mr. Suparat Sirisuwannangkura Vice President -Mr. Mingkwan Sangsuwan Vice President -Mr. Suthi Chanwimaluang Vice President -Mr. Apichai Sidrattakul Vice President -Mr. Sitachai Jeeratunyaskul Vice President -Mr. Somsak Nuntatovatana Vice President -Mr. Pakorn Vongvitayapirom Vice President -Mr. Montion Veerothai Vice President -Mr. Adisak Kasikapast Vice President End -WW-

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