Alliance Furthers Green Thinking Philosophies

IRVINE, Calif. – (September 16, 2008) – Toyota Material Handling, U.S.A., Inc. (TMHU), the number one lift truck supplier in the United States, and AeroVironment, Inc. (AV), the No. 1 battery fast charge system manufacturer, have established an alliance to market AV’s PosiCharge fast charge systems. PosiCharge systems are now available through 68 authorized Toyota Industrial Equipment dealers with 190 locations throughout the United States.

“Beyond pushing the bounds of product innovation, one of Toyota’s goals is to support environmentally appropriate and socially beneficial initiatives contributing to a cleaner environment,” said Shankar Basu, president and CEO of TMHU. “This alliance with AeroVironment furthers Toyota’s ‘green thinking’ philosophy by promoting high-quality PosiCharge products, which benefit the environment and our customers in numerous ways.”

AeroVironment’s comprehensive line-up of PosiCharge high quality battery fast charge systems is designed to deliver a measurable positive impact on improving the environment by reducing the total number of batteries required to operate a fleet of electric lift trucks, and improving the efficiency and life cycle of the battery itself.

Offering significant productivity enhancements, PosiCharge fast charge systems maximize operator uptime and throughput by eliminating the need for complicated charge schedules. Additionally, PosiCharge fast charging technology eliminates the need for battery changing rooms and manual handling of batteries, which in turn reduces the chances of lead acid spillage and other environmental and safety hazards. An extended life cycle of batteries combined with a company’s reduced battery inventory also equates to less batteries heading to landfills.

Now in addition to offering the world’s cleanest IC lift truck* and a full line of emission-free electric lift trucks, Toyota Industrial Equipment dealers offer environmentally friendly PosiCharge fast charge systems for a more comprehensive environmental solution.

“Our alliance with Toyota and its highly reputable dealership network is a perfect fit for PosiCharge,” said Tim Conver, president and CEO of AeroVironment, Inc. “We look toward the future in developing and promoting products that result in better customer productivity, safety improvements, and a better environment.”

AeroVironment’s research shows that by improving the efficiency of lead acid batteries and eliminating battery changing rooms within the past 10 years, its fast charging systems have contributed to an estimated savings of:

2.5 million pounds of lead

500,000 pounds of steel

30,000 gallons of sulfuric acid; and

55,000 gallons of water

Beyond the positive environmental impact, this alliance will address customers’ increased expectations for value driven solutions in today’s challenging global and economic state.

“The state of our economy, environmental concerns, dependence on foreign oil, increasing gas and energy prices and legislative pressure to improve air quality has really made an impact on the material handling industry today,” states Martin Boyd, national product planning manager of Toyota Material Handling, U.S.A., Inc. Boyd adds, “The timing of these issues, combined with the performance increases associated with AC technology has really served as the catalyst behind the strong trend towards electric lift trucks. Today, approximately 60% of lift trucks sold are electrics – the highest our industry has ever seen. We expect this trend toward electrics to continue its momentum upward for the next five years.”

Ryan Gibson, product manager for AeroVironment explains, “Any electric lift truck customer application requiring battery changes is a potential candidate for benefiting from the demonstrated value of PosiCharge fast charge technology. We are even seeing an increased interest among customers with fleets of internal combustion lift trucks who are seriously considering the switch to electrics.” Gibson concludes, “Today’s environmental concerns, along with pressures to improve efficiencies and increase productivity make the alliance between Toyota and PosiCharge the perfect fit – at the perfect time.”

About AeroVironment and PosiCharge

AeroVironment’s PosiCharge™ motive power systems feature intelligent fast chargers designed to allow users to eliminate the battery room and its associated challenges, thereby recovering run time, enhancing productivity, optimizing assets and improving worker safety. PosiCharge™ systems are designed to fast charge each battery in the vehicle during scheduled breaks, so the battery never leaves the vehicle.** With a proprietary system that safeguards batteries by customizing each charge, PosiCharge™ systems can actually extend a battery's useful life as compared to conventional charging technology. AeroVironment has been supporting high-growth Fortune and Global 500 facilities with its PosiCharge™ systems for more than six years. More information can be found at www.posicharge.com and at www.avinc.com.

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. 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 TIEM. Most of the Toyota lift trucks, including the 8-Series, sold in the United States are manufactured at TIEM.

Toyota’s commitment to excellence in customer service extends nationwide. Sixty-eight authorized Toyota Industrial Equipment dealers, with a total of 190 dealership locations throughout the United States, offer comprehensive customer service support, including one-stop shopping for both new and Certified Used lift trucks, PosiCharge, parts, service and financing. For more information on TMHU, please visit www.toyotaforklift.com or call 1-800-226-0009.