Toyota Opens New Financial Services Center in Owings Mills, Maryland

May 15, 2002, 01:00 ET from Toyota Financial Services

    OWINGS MILLS, Md., May 15 /PRNewswire/ -- Toyota Financial Services (TFS)
 and Lexus Financial Services (LFS) today celebrated the grand opening of their
 new Customer Service Center (CSC) in Owings Mills, Md. The new facility, which
 will employ approximately 420 associates with an annual payroll of
 $10 million, is one of three CSCs in the U.S. that will serve more than
 1.9 million loan and lease customers of Toyota and Lexus.
     In commemoration of the event, TFS/LFS donated a new Sienna minivan and
 $25,000 to the Baltimore County Public Schools Education Foundation.  The
 check is intended to benefit three local elementary schools in the Owings
 Mills-area -- Randallstown, New Town and Deer Park -- and the van will aid the
 Baltimore County Public School system in teacher recruitment trips and
 miscellaneous transportation needs.
     "We are extremely excited to join the Baltimore County community," said
 George E. Borst, President and CEO of TFS and LFS.  "We selected Owings Mills
 because we knew it would be an excellent place to recruit service-oriented
 associates, and at the same time, the Eastern Region location will eventually
 allow us to extend the number of hours in a day when a customer can reach us."
     The East Coast facility, occupying approximately 100,000 square feet of
 leased space, joins an existing CSC located in Cedar Rapids, Iowa, and a
 recently opened CSC in Chandler, Ariz. (opened in October 2001). The two new
 CSCs are part of an organizational restructuring aimed at improving customer
 and dealer satisfaction. When all three centers become fully operational,
 customers will be able to reach TFS/LFS customer service representatives from
 7 a.m. (EDT) to 7 p.m. (PDT).
     The Owings Mills center expects to service approximately 625,000 loan and
 lease customers, handle an estimated 5.1 million incoming and outgoing
 customer and dealer calls, and sort through nearly 500,000 pieces of mail per
 year.  Typical activities of the center include basic account maintenance,
 such as address changes, account status inquiries, retail and lease payoff
 inquiries, and payment processing.
     About Toyota Financial Services
     TFS is the finance and insurance brand for Toyota in the U.S., offering
 retail auto financing and leasing through Toyota Motor Credit Corporation
 (TMCC) and extended service contracts through Toyota Motor Insurance Services
 (TMIS).  Lexus Financial Services is the brand for financial products for
 Lexus dealers and customers.
     TFS is the third largest captive finance company, and the seventh largest
 finance company in the United States.  TFS currently employs over
 2,600 associates nationwide, and has managed assets totaling more than
 $36 billion.  It is part of a worldwide network of comprehensive financial
 services offered by Toyota Financial Services Corporation, a wholly-owned
 subsidiary of Toyota Motor Corporation (NYSE:   TM).
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SOURCE Toyota Financial Services