Has the same check engine code on my 95 ES300. As George pointed out, in all probability it's the vac modulator. EGR valve failure is very uncommon and nearly everyone who has posted here has fixed the P0401 CEL by replacing the vac modulator (myself included).
The diaphragm's in the modulator dry rot and no longer hold a vacuum, causing the CEL. Dealer wants like $70+ for one, picked up a aftermarket one off Ebay for $29 shipped to my door. Works like a champ, no more CEL!
Here's the seller....
Ebay Aftermarket Vacuum Modulator