Announcing TD Dividend Income Fund-Linked Principal Protected Notes, Series 1 (Return of Capital)



    TORONTO, Sept. 25 /CNW/ - The Toronto-Dominion Bank today announced the
launch of the TD Dividend Income Fund-Linked Principal Protected Notes,
Series 1 (Return of Capital) (the "Notes"). These are the first principal
protected notes linked to a TD Mutual Fund. The Notes are issued by The
Toronto-Dominion Bank.
    Structured by TD Securities Inc., the Notes are linked to the TD Dividend
Income Fund (the "Fund"), one of the top TD Mutual Funds. Managed by Doug
Warwick and Michael Lough of TD Asset Management Inc., the Fund seeks to
provide income with capital appreciation as a secondary objective, by
investing primarily in income-producing securities.
    The Notes use a dynamic asset allocation strategy designed to provide
increased exposure to the Fund when performance is up and reduced exposure
when performance is down. The Notes are also designed to provide up to 150 per
cent exposure to the Fund through the use of leverage. Investors will benefit
from 100 per cent principal protection if they hold the Notes until maturity.
The Notes will provide investors with tax-efficient monthly distributions of
0.42 per cent of Fund exposure paid as returns of capital.
    The selling period for the Notes is September 24 to November 5, 2007,
with an issue date of November 9. The term is 6.5 years with a maturity date
of May 9, 2014. The minimum investment is $5,000, or 50 Notes. This press
release is intended to be read in conjunction with the Information Statement
relating to the Notes. Investors should consult with their advisors before
making an investment decision.

    About TD Asset Management Inc.

    Under the TD Mutual Funds name, TDAM provides a diverse range of over 68
mutual funds and 15 professionally managed portfolios. TDAM manages retail
mutual fund assets on behalf of more than 1.4 million investors and TD Mutual
Funds is one of the most broadly diversified fund families in Canada. Funds
are available at TD Canada Trust branches (through TD Investment Services Inc.
representatives), TD Waterhouse Discount Brokerage, Financial Planning and
Private Investment Advice, as well as leading investment dealers, independent
brokers, advisors and financial planners. As of August 31, 2007, TDAM was the
fourth largest mutual fund company in Canada, with $54.4 billion invested in
TD Mutual Funds.

    About TD Bank Financial Group

    The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Financial Group. TD Bank Financial Group serves more than 14 million
customers in four key businesses operating in a number of locations in key
financial centres around the globe: Canadian Personal and Commercial Banking
including TD Canada Trust; Wealth Management including TD Waterhouse and an
investment in TD Ameritrade; Wholesale Banking, including TD Securities; and
U.S. Personal and Commercial Banking through TD Banknorth. TD Bank Financial
Group also ranks among the world's leading on-line financial services firms,
with more than 4.5 million on line customers. TD Bank Financial Group had
CDN$404 billion in assets, as of July 31, 2007. The Toronto-Dominion Bank
trades on the Toronto and New York Stock Exchanges under the symbol "TD".

    For more information about the TD Dividend Income Fund-Linked Principal
Protected Notes, including a copy of the Information Statement, please visit
www.tdsecurities.com/structurednotes.





For further information:

For further information: For media inquiries, contact: Lisa Hodgins, TD
Bank Financial Group, (416) 983-2982, lisa.hodgins@td.com


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