Repurchase of Shares

Toyota Motor Corporation
18 February 2004

                                 (TRANSLATION)

To Whom It May Concern:

                                                               February 18, 2004
                                                        Toyota Motor Corporation
                                               (Toyota Jidosha Kabushiki Kaisha)
                                    1, Toyota-cho, Toyota City, Aichi Prefecture


                Notice of the Results of Repurchase of Shares
          through N-NET Closing Price Orders on Nagoya Stock Exchange

We hereby inform you that Toyota Motor Corporation ('TMC') repurchased its
shares as follows with respect to the notice of repurchase of shares made to you
yesterday (February 17, 2004).


1. Type of shares repurchased                                 Shares of common stock of TMC

2. Aggregate number of shares repurchased                     28,740,000 shares

3. Purchase price                                             JPY 3,650 per share

4. Aggregate purchase price                                   JPY 104,901,000,000

5. Date of repurchase                                         February 18, 2004 (Wednesday)

6. Method of repurchase                                       Purchase through N-NET closing price orders on
                                                              the Nagoya Stock Exchange

(Reference)

Matters resolved at the FY 2003 Ordinary General Shareholders' Meeting held on
June 26, 2003.

•Type of shares to be repurchased                                Shares of common stock of TMC

•Aggregate number of shares to be repurchased                    Up to 150,000,000 shares

•Aggregate purchase price of shares                              Up to JPY 400,000,000,000


Shares having been repurchased up to February 18, 2004

• Aggregate number of shares repurchased                         93,028,200 shares

• Aggregate purchase price of shares                             JPY 311,425,992,000


                                  #    #    #


Contact: TMC, Public Affairs at (03) 3817-91116 (Tokyo Head Office)
(0565) 23-15204 (Head Office)
(052) 952-34614 (Nagoya)


                      This information is provided by RNS
            The company news service from the London Stock Exchange