TD Bank Financial Group Comments On Expected Impact of TD Ameritrade Holding Corp.'s Fourth Quarter Earnings

    TORONTO, Oct. 23 /CNW/ - TD Bank Financial Group announced today that it
expects TD Ameritrade's fourth quarter earnings to translate into a
contribution of CDN$60 million to fourth quarter net income for its Wealth
Management segment.
    TD Bank Financial Group will release its fourth quarter financial results
and webcast its quarterly earnings conference call live on the internet on
Thursday December 4, 2008. Conference call and webcast details will be
announced closer to the date.

    About TD Bank Financial Group

    The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Financial Group. TD Bank Financial Group is the seventh largest bank
in North America by branches and serves approximately 17 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 Commerce Bank (to be known together as TD Bank); 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 5.5 million on-line
customers. TD Bank Financial Group had CDN$509 billion in assets as of
July 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: Maria Leung, Corporate Communications, (416)
983-4093; Tim Thompson, Investor Relations, (416) 982-6346

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