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Toyota Material Handling, U.S.A., Inc. Names Brett Wood President, Shankar Basu Continues as Chairman & CEO

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Toyota Material Handling U.S.A., Inc.
1 Park Plaza
Irvine, CA, 92623-7419
USA



Press release date: September 22, 2008

Additional Management Changes Strengthen Business Strategy to Usher in New Era in Material Handling

IRVINE, Calif., (September 22, 2008) - Toyota Material Handling, U.S.A., Inc.'s (TMHU) Chairman and CEO Dr. Shankar Basu today announced the appointment of Brett Wood to president, effective immediately. Basu, outgoing president, has been influential in catapulting the company to its number one lift truck supplier ranking and will remain active in the company serving as CEO and taking on the new role of chairman. Basu also continues to serve on the TMHU board and as a director on the Toyota Industrial Equipment Manufacturing (TIEM) board of directors. Wood will now serve on the TMHU board as well.

"Brett Wood brings a unique mix of hands-on experience across many facets of our business, including dealer relations, product development, strategic planning and marketing," said Basu. "His loyal devotion to Toyota and deep expertise in the lift truck market make him the ideal candidate for the job. I look forward to working hand-in-hand with him to lead TMHU into the future."

Wood, who will report to Basu, formerly served as the company's vice president of marketing, product and strategic planning and training operations and previously oversaw dealer development as well. He has been influential in identifying the trends and requirements of the material handling industry and developing Toyota products and corporate strategies that meet U.S. lift truck users' needs.

A TMHU associate since 1989, Wood has held numerous managerial and technical support positions including market application engineer, senior product planning engineer, technical services manager, electric product planning manager, sales training manager and product planning manager. Prior to joining Toyota, Wood held engineering positions with IBM Corp. and Northrop Aerospace, where he earned the prestigious recognition of "Engineer of the Year."

He recently served as the chairman of the General Engineering Committee for the Industrial Truck Association (ITA) and is now a member of the advisory committee for that same group. Wood is currently a member of both Modern Materials Handling magazine's editorial advisory board and the Electric Power Research Institute's Industry Advisory Council.

Wood has a bachelor's degree in mechanical engineering from Cornell University in Ithaca, N.Y. He also is president of the Coast Soccer League, and he and his wife, Jamie, reside in Manhattan Beach, Calif., with their daughter, Madison.

Additional Management Changes

In addition to naming Wood to president, Toyota also announced several management changes, including Hitoshi Matsuoka promoted to executive vice president of treasury, coordination and strategic planning; Alan Cseresznyak promoted to senior vice president of administration in charge of finance, information technology, human resources, distribution and affiliated companies; Terry Rains promoted to vice president of aftermarket sales in charge of parts, service and customer satisfaction; Adam Hughes to national account sales manager; John Schmitt to national dealer sales manager; and Payman Shabbak promoted to national strategic planning manager.

Hitoshi Matsuoka, executive vice president of treasury, coordination and strategic planning, will oversee all financial aspects of the company. He formerly served as vice president and treasurer where he was responsible for overseeing the financial operations and integrating TMHU's sales, marketing and overall business strategy with Toyota's global operations. Matsuoka has been with Toyota for more than 18 years. He holds a bachelor's degree in economics from Nanzan University in Japan and resides in Irvine, Calif. Matsuoka and his wife, Michiko, have three children: Nao, Chiharu and Kumiko.

Alan Cseresznyak, senior vice president of administration in charge of finance, information technology, human resources, distribution and affiliated companies, previously was vice president of finance, information technology and distribution. Cseresznyak has been a Toyota associate since 1990 and during that time has held a variety of management positions. Cseresznyak holds a bachelor's degree in accounting from Indiana University, and master's degrees in business administration and information technology from California State University, Fullerton. He also is a CPA and an active member of the American Institute of Certified Public Accountants (AICPA). Cseresznyak resides in Newport Beach, Calif.

Terry Rains, vice president of aftermarket sales in charge of parts, service and customer satisfaction, formerly was national manager for parts, service and customer satisfaction. He began his career with Toyota more than 10 years ago, holding several managerial positions before being named to his current position. Rains earned his bachelor's degree in business from the University of Redlands in California. He resides in Rancho Santa Margarita, Calif.

Adam Hughes, national account sales manager, recently served as national dealer sales manager and has spent his entire career in the material handling industry with experience in nearly all aspects of the business, including sales, product and marketing. He is a graduate of Bracknell College in England, where he completed a business studies program. He resides in Manhattan Beach, Calif., with his wife, Annalisa.

John Schmitt, national dealer sales manager, formerly served as national account sales manager. He has been a Toyota associate for 16 years and has held many positions in sales and national accounts during that time. Schmitt holds a bachelor's degree in administrative sciences from Southern Illinois University, Carbondale. He resides in Orange, Calif., with his wife, Melissa.

Payman Shabbak is now national strategic planning manager. Shabbak, who has been a Toyota associate for five years, oversees long-term and short-term planning, economic forecasting, and strategic initiatives and communication with the Industrial Truck Association (ITA). He also is a member of the ITA statistic subcommittee. Shabbak earned an engineering degree from Sharif University in Tehran, Iran, and a master's degree from University of California, Los Angeles. He and his wife, Samira, live in Irvine, Calif., with their son, Ryan.

About Toyota Material Handling, U.S.A., Inc. Celebrating more than 40 years of established operations in the United States, Irvine, Calif.-based Toyota Material Handling, U.S.A., Inc., (TMHU) has been the No. 1 selling lift truck supplier in the U.S. since 2002 and currently offers a full line of high-quality lift trucks sold under the Toyota brand. TMHU, as the sole United States distributor for Aichi, now offers a line-up of aerial work lifts, including scissor lifts, crawler and wheeled boom lifts designed specifically to meet a wide range of indoor and outdoor needs.

Built on a reputation of excellence, Toyota remains popular due to its quality, reliability and durability. Quality is the hallmark of Toyota's world-renowned Toyota Production System practiced at all Toyota manufacturing facilities, including Toyota Industrial Equipment Manufacturing (TIEM). Most of the Toyota lift trucks, including the 8-Series, sold in the United States are manufactured at TIEM in Columbus, Ind.

TIEM, and all Toyota manufacturing plants in the U.S. and Canada, comply with the ISO 14001 standard from the International Organization for Standardization (ISO), and have been honored for their environmental management systems and dedication to continuous improvement.

Toyota offers comprehensive customer service support, including one-stop shopping for both new and Certified Used lift trucks, parts, service and financing. For more information on TMHU, please visit www.toyotaforklift.com or call 1-800-226-0009.

Contact: Melinda Beckett-Maines Toyota Material Handling, U.S.A. 949-223-7722 melinda.beckett-maines@tmhu.com

Christine Welch RiechesBaird PR 714-573-0899, ext. 25 christine@riechesbaird.com
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