TD Bank Confirms Expected Closing Date of Commerce Bancorp Acquisition

    TORONTO, March 20 /CNW/ - TD Bank Financial Group (TSX, NYSE:   TD) today
confirmed that its acquisition of Commerce Bancorp is expected to close on
March 31, 2008.
    Upon the close of the transaction, Commerce shareholders will become TD
shareholders. Any holder of TD shares on TD's upcoming dividend record date of
April 3, 2008, will be eligible for the TD dividend.
    TD Bank Financial Group will hold an investor call and webcast after the
transaction closes. The call will feature presentations on the completion of
the transaction and expected earnings impact, followed by a question and
answer period with investors and analysts. The date of the call and additional
details will be released in the coming weeks.

    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; U.S. Personal and Commercial Banking through TD
Banknorth; and Wholesale Banking, including TD Securities. 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$435 billion in assets, as of January 31, 2008. The Toronto-Dominion Bank
trades on the Toronto and New York Stock Exchanges under the symbol "TD", as
well as on the Tokyo Stock Exchange.

For further information:

For further information: Simon Townsend, Media Relations, (416)
944-7161; Tim Thompson, Investor Relations, (416) 308-9030

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