Notice Stock Options

Toyota Motor Corporation
01 August 2007



                                 (Translation)



                                                                  August 1, 2007

To Whom It May Concern:


                                                     Company Name:
                                                        TOYOTA MOTOR CORPORATION
                                                Name and Title of Representative:
                                                        Katsuaki Watanabe, President
                                                (Code Number: 7203
                                                Securities exchanges throughout Japan)
                                                Name and Title of Contact Person:
                                                        Takuo Sasaki
                                                        General Manager, Accounting Division
                                                       (Telephone Number: 0565-28-2121)





          Notice Concerning the Determination of the Exercise Price of
                    Stock Options (Stock Acquisition Rights)



As announced on June 22, 2007, pursuant to the approval at the 103rd Ordinary
General Shareholders' Meeting of Toyota Motor Corporation ('TMC'), it was
resolved at the meeting of the Board of Directors of TMC held on June 22, 2007
(the 'Board Meeting') that rights to subscribe for or purchase shares of TMC
('Stock Acquisition Rights') will be issued on August 1, 2007 for the purpose of
granting stock options, pursuant to the provisions of Article 236, Article 238
and Article 239 of the Corporation Act.  We hereby announce that, today, the
initial amount of assets to be paid upon exercise of each Stock Acquisition
Right, calculated based on the formula which was decided at the Board Meeting,
has been determined at JPY727,800 (initially JPY7,278 per share).





(Reference)

(1)   Date on which the Board of Directors resolved to propose the issuance of
Stock Acquisition Rights to the Ordinary General Shareholders' Meeting:

May 9, 2007



(2)   Date on which the issuance of Stock Acquisition Rights was adopted by the
Ordinary General Shareholders' Meeting:

June 22, 2007


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