TD Bank Completes $250 Million Preferred Share Issue, Series R*

On March 12, 2008, The Toronto-Dominion Bank (“TD Bank”) issued 10 million Non-cumulative Class A First Preferred Shares, Series R carrying a face value of $25.00 per share, for maximum gross proceeds raised of $250 million. TD Bank has filed in Canada a prospectus supplement to its January 11, 2007, base shelf prospectus in respect of this issue.

TD Bank's John van Boxmeer, Associate Vice President, Treasury and Balance Sheet Management; Peter Walker, Senior Manager, Capital Finance; Mary Genereux, Manager, Capital Finance; and Jennifer Soward, Senior Counsel, Legal, were assisted by McCarthy Tétrault LLP's Philip Moore, Wendi Locke and Jo-Anna Brimmer (corporate and securities), and Jerald Wortsman and Mario Abrioux (tax).

The underwriters, led by TD Securities Inc., were advised in this transaction by a team from Fasken Martineau DuMoulin LLP that included Richard Steinberg and Adam Inglis (corporate/securities) and Mitchell Thaw (tax).