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Toyota Financial Services Rescue Coastguard

FOR IMMEDIATE RELEASE

Toyota Financial Services rescue Coastguard with Major Sponsorship following drop in Lotto funds

AUCKLAND, 16 December 2002 - Toyota Financial Services, a leading provider of automotive financial services in New Zealand, today became the first principal sponsor of the Royal New Zealand Coastguard Federation, New Zealand's primary maritime Search and Rescue service. The extensive sponsorship from Toyota Financial Services follows a major reduction in funding from the Lottery Grants Board.

Toyota Financial Services will provide the Coastguard with cash, leased vehicles and marketing support that will enable the Federation and its units to meet their operational and marketing objectives, as well as lay the foundations for a more effective nationwide service. The volunteer organisation, which has assisted more than 50,000 New Zealanders on the water in the last decade, is implementing a new constitutional structure with four revamped regions and new national body.

"This is the first time the Federation has had a national sponsor and we are delighted to have the support of a well-respected company and nationally recognised brand in Toyota Financial Services," says Kevin Rangi, CEO, Royal New Zealand Coastguard Federation. "The partnership with Toyota Financial Services gives us the resources to progress with our restructuring, as well as continue with projects that had been cancelled due to a lack of funds. Now we can focus on what we do best, educating the public about water safety and saving lives."

According to John Garland, Managing Director, Toyota Financial Services, the two organisations have many synergies. "Both Toyota Financial Services and the Coastguard have nationwide networks. The Coastguard has more than 60 units across the country while Toyota Financial Services has a relationship with 55 Toyota dealership outlets throughout New Zealand. In most places where a Coastguard unit is located, you will also find a Toyota dealership," he says.

"Toyota Financial Services wanted to get involved and ensure that this vital community service continues. We also see this partnership as a way for Toyota dealers to support Coastguard at a local level," says Mr Garland.

About Toyota Financial Services

Toyota Financial Services is a leading provider of automotive financial services in New Zealand, offering an extensive line of financing plans and insurance products to authorised Toyota dealers and their customers. These include retail financing, retail leasing, wholesale financing and other financial services.

Toyota Financial Services is the country's largest automotive distributor finance company and the fifth largest finance company with net receivables exceeding $500 million, and a Standard & Poor's rating of AAA, the highest rating of any New Zealand financial institution. Toyota Financial Services is part of the worldwide financial services operations of Toyota Financial Services Corporation, which is a wholly owned subsidiary of Toyota Motor Corporation in Japan. Currently, Toyota Financial Services has 42 employees working in the Auckland head office, with sales personnel in Wellington and Christchurch.

More information on Toyota Financial Services is available at http://www.toyota.co.nz/

About The Royal New Zealand Coastguard Federation

Established in 1976 The Royal New Zealand Coastguard Federation provides New Zealand's primary maritime Search and Rescue service operating from a network of more than 60 affiliated units, strategically located around the coastline and at major lakes in New Zealand. In the last ten years, Coastguard units have responded to over 30,000 calls for help and assisted 50,000 New Zealanders.

In addition to Search and Rescue, the Coastguard also provides a Boating Education Service which delivers a variety of boating safety courses to the New Zealand public. A number of non emergency services are also provided, such as the presence of safety boats at marine events and a national radio network that provides marine weather information and local marine communications services.

ENDS

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