Dividend Declaration

Toyota Motor Corporation
06 November 2003

                                 (Translation)


               Copy of FY2004 Interim Dividend Notice Postal Card


(Front side)

To All Shareholders:

                                                                November 6, 2003
                                                            Fujio Cho, President
                                                        TOYOTA MOTOR CORPORATION
                                    1, Toyota-cho, Toyota City, Aichi Prefecture


            Notice of Resolution of the Board of Directors' Meeting
                    Concerning Payment of Interim Dividends


Dear Shareholder,


We hereby notify you that, at the Board of Directors' Meeting of TOYOTA MOTOR
CORPORATION('TMC')held on November 5, 2003, the resolution concerning FY2004
(from April 1, 2003 to March 31, 2004) interim dividends has been passed as set
forth below.


Sincerely yours


Fujio Cho



In accordance with Article 27, Paragraph 2 of the Articles of Incorporation of
TMC, we will distribute money (interim dividends) as provided for in Article
293-5 of the Commercial Code to the shareholders or the registered pledgees
entered or recorded on the register of shareholders (including the register of
beneficial shareholders) as of the end of September 30, 2003 as follows.


1.     Interim dividend................................. JPY20 per share

2.     The effective date of the right to claim for the interim dividends
and the payment commencement date......... November 26, 2003 (Wednesday)



Notification


*    Notice of postal transfer payment for the payment of interim dividends will
be sent to your notified address on November 25, 2003 (Tuesday).

*    For those who have chosen the 'bank account transfer,' we will follow the
necessary procedures for the transfer of the interim dividends to your
designated bank account on November 26, 2003 (Wednesday).


(Reverse side)

                                  Postal Card

                                                                 Shin-Tokyo
                                                                   Office
                                                                 Post Payment
                                                                   Postal

                            TOYOTA MOTOR CORPORATION
                       Handling Office of Transfer Agent
                             UFJ Trust Bank Limited
                          Corporate Agency Department
              10-11, Higashisuna 7-chome, Koto-ku, Tokyo 137-8081
                          Phone number: 81-3-5683-5111



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