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News of May 22, 2002


Toyota Opens New Financial Services Center In Owings Mills, Maryland

OWINGS MILLS, MD -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.

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. (PST).

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.

(May 15, 2002)

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