TD Banknorth Announces Final Hudson United Merger Consideration Election Results and Proration

TD Banknorth Inc. (NYSE: BNK) announced today the final
merger consideration election results and proration of cash and stock
related to its acquisition of Hudson United Bancorp (NYSE: HU) on
January 31, 2006.
   Pursuant to the merger agreement, holders of shares of Hudson
United common stock are entitled to receive for each share outstanding
either cash or stock, or a combination thereof, in an amount equal to
$42.42, based on the average closing price of the TD Banknorth common
stock during the ten-trading day period prior to the closing date,
subject to proration as provided in the merger agreement, plus cash in
lieu of any fractional share interest. The election period for Hudson
United shareholders to choose the form of merger consideration ended
on January 26, 2006.
   Of the 45,022,050 shares of Hudson United common stock outstanding
on January 31, 2006, 18,578,629 of the shares, or approximately 41%,
elected to receive cash, and a total of 26,443,421 of the shares, or
approximately 59%, either elected to receive TD Banknorth common stock
or were deemed, pursuant to the merger agreement, to have elected to
receive TD Banknorth common stock.
   Based on the above elections and in accordance with the merger
agreement, Hudson United shareholders who elected to receive cash will
receive an amount of cash equal to $42.42 per outstanding share.
Hudson United shareholders who elected (or were deemed to have
elected) stock will receive 1.2426 shares of TD Banknorth common stock
plus $5.81 in cash per outstanding share, plus cash in lieu of any
fractional share interest.

   About TD Banknorth Inc.

   TD Banknorth Inc. is a leading banking and financial services
company headquartered in Portland, Maine and a majority-owned
subsidiary of TD Bank Financial Group. At January 31, 2006, TD
Banknorth had over $40 billion of total consolidated assets and
provided financial services to more than 1.5 million households in the
Northeast. TD Banknorth's banking subsidiary, TD Banknorth, N.A.,
operates banking divisions in Maine, New Hampshire, Massachusetts,
Connecticut, Vermont, New York, New Jersey and Pennsylvania. TD
Banknorth and TD Banknorth, N.A. also operate subsidiaries and
divisions in insurance, wealth management, merchant services, mortgage
banking, government banking, private label credit cards, insurance
premium financing and other financial services and offer investment
products in association with PrimeVest Financial Services, Inc. The TD
Banknorth common stock trades on the New York Stock Exchange under the
symbol "BNK". For more information, visit http://www.tdbanknorth.com.