Redemption of Series K&L

RNS Number:2367F
Toronto-Dominion Bank
17 December 2002



                       TD Bank Announces Redemptions and

  Declares Dividends on Class A First Preferred Shares, Series K and Series L

December 17, 2002 - TORONTO - The Toronto-Dominion Bank (the "Bank") announced
today that it will exercise its right to redeem all of its outstanding Class A
First Preferred Shares, Series K (the "Series K Shares") on February 3rd, 2003
at the price per share of $25.00 Canadian Dollars. The Bank has also declared a
dividend on the Series K Shares in the amount of $0.015103 per share payable for
the 3 day period from January 31, 2003 to February 3, 2003, to shareholders of
record at the close of business on February 3, 2003.

The Bank also announced that it will exercise its right to redeem all of its
outstanding Class A First Preferred Shares, Series L (the "Series L Shares") on
February 3rd, 2003 at the price per share of USD $25.00. The Bank has also
declared a dividend on the Series L Shares in the amount of USD $0.013151 per
share payable for the 3 day period from January 31, 2003 to February 3, 2003, to
shareholders of record at the close of business on February 3, 2003.

After February 3, 2003, the Series K Shares and Series L Shares will cease to be
entitled to dividends and the holders of such shares will not be entitled to
exercise any right in respect thereof except that of receiving the redemption
amount and the dividend referred to above.

Instructions with respect to receipt of the redemption amount and the dividend
will be set out in the Letter of Transmittal to be mailed to registered holders
of the Series K and Series L Shares shortly. Inquiries should be directed to our
Registrar and Transfer Agent, CIBC Mellon Trust Company, at 1-800-387-0825 (or
in Toronto 416-643-5500). Further details and instructions will be posted
shortly to our website, www.td.com, under Investor Information/Shares and Debt.

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".

                                      -30-


For more information, please contact:

Peter Aust

Vice President, Capital Finance

TD Bank Financial Group

416-982-8056


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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