Finalizes Size of Pref Issue

RNS Number:2424G
Toronto-Dominion Bank
15 January 2003


TD Bank Finalizes Size of Preferred Share Issue

The Toronto-Dominion Bank ("TD") today announced that a group of underwriters
led by TD Securities Inc. have exercised their option to purchase an additional
4 million Non-cumulative Class A First Preferred Shares, Series M priced at
C$25.00 per share. This brings the total gross proceeds raised under the
offering announced yesterday to C$350 million for the total 14 million share
issue expected to close on February 3, 2003.

The securities offered have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell
securities in the United States.

About TD Bank Financial Group

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank
Financial Group. In Canada and around the world, TD Bank Financial Group serves
more than 13 million customers in three key businesses: personal and commercial
banking including TD Canada Trust; wealth management including the global
operations of TD Waterhouse; and a leading wholesale bank, TD Securities,
operating in over 20 locations in key financial centres around the globe. 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$278 billion in assets, as at October 31, 2002. The
Toronto-Dominion Bank trades on the Toronto and New York Stock Exchanges under
the symbol "TD."

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For further information: Peter J. Aust, Vice President, Capital Finance,
[phone]


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