TD Bank Financial Group Reiterates Comments on Exposure to Asset Backed Commercial Paper Market

    TORONTO, Aug. 20 /CNW/ - TD Bank Financial Group reiterated that it does
not have any exposure to Asset Backed Commercial Paper (ABCP) products covered
by the agreement struck last week by a number of major players in Canada's
financial market. This includes holdings within TD Mutual Funds and other
money market funds managed by TD Asset Management Inc. TD also noted that it
did not distribute any of the products noted in last week's agreement to our
customers through its systems.
    TD further clarified that all asset-backed commercial paper owned in
these Canadian money market funds is sponsored by the major Canadian banks.
    TD will report its third quarter earnings results on
Thursday, August 23rd, 2007. Until that time, TD does not anticipate providing
further comment during its quiet period.

    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 $397 billion in assets, as of April 30, 2007. The Toronto-Dominion Bank
trades on the Toronto and New York Stock Exchanges under the symbol "TD".

For further information:

For further information: Simon Townsend, Senior Manager, Corporate
Communications, (416) 944-7161; Tim Thompson, VP, Investor Relations, (416)

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