Dissolution of Subsidiary

Toyota Motor Corporation
31 August 2001


Notice Concerning Dissolution of a Subsidiary of TMC

The Board of Directors of Toyota Motor Corporation ('TMC') resolved to dissolve
TMC's subsidiary, iStarSystems, Inc. ('iStarSystems') as described below at its
meeting held on August 31, 2001.

1.  Factors which lead to dissolution

iStarSystems, Inc. was established as a joint venture between Toyota Motor
Sales, U.S.A., Inc., a subsidiary of TMC, and i2Technologies, Inc. ('i2') in
March 2000. iStarSystems, Inc. started its business to establish and operate an
on-line e-marketplace for automotive afterparts. However, based on the decision
that the business of iStarSystems would be more appropriately carried on by i2,
the joint venture partner, TMC decided to dissolve iStarSystems.
 
2. Facts about iStarSystems

Location:                    Irvine, California, U.S.A.
Representative:              Edward J. O'Leary
Shareholders' equity:        US$17,500,000
Ownership structure:         Toyota Motor Sales, U.S.A., Inc. - 80.1%
                             i2Technologies, Inc. - 19.9%

3.  Schedule of dissolution

Scheduled for around September 2001

4. Anticipated effect on TMC's consolidated sales and profits 

The effect on TMC's business performance will be minor.