Toyo Automotive Parts (USA), Inc. has established. (04.June,2001)

This is to announce that Toyo Tire & Rubber Co., Ltd(Osaka,Japan,President and CEO Shozo Katayama) has established a new company to produce automotive anti-vibration system rubber products in Franklin, Kentucky USA.

In order to meet required global supply and to create customer satisfaction, we are strengthening the anti-vibration systems business as our core business, and decided to establish a new company in Franklin, Kentucky USA.

The newest high productivity equipments with our own developed unique production system, and centered procurement conducted by Toyo, Japan, will enforce competitiveness of the new company.

We will invest in an environmental protection process that is adapted to meet the latest EPA regulations.

Our principal company activity has to harmonize with clean earth for next generation.

We will serve the local community with strong consideration for both environmental protection and economic development.

Present target for prodiction and sales for the year 2006 is $32million.

---New Company Profile---

Name of Company:Toyo Automotive Parts (USA), Inc.

Address:521 Page Drive, Franklin Kentucky 42134

Shareholder:Toyo Tire & Rubber Co., Ltd

Paid up capital:$7million

President:Yasuo Ito

Projected Sales:$32million in year of 2006

Employees:145 in year of 2006

Schedule:Start of Plant Construction July 2001

Completion of Plant building February 2001

Start of Production July 2002