TD Bank and Total System Services Enter Long-term Outsourcing Agreement

The Toronto-Dominion Bank (TD) and Total System Services, Inc. (TSYS) have agreed to enter into a long-term outsourcing agreement, effective as of October 19, 2005, for the provision by TSYS of a broad range of processing and support services for TD's consumer and commercial credit card accounts. The value of the transaction was not disclosed.

TD was represented by Catherine Forbes, senior counsel, TD, and Daniel Logan (IT) and Dov Begun (tax) of Osler, Hoskin & Harcourt LLP.

TSYS was represented by Heather Roberts, corporate counsel, and Kin Brown, senior corporate counsel. They were supported by Ogilvy Renault LLP with a team that consisted of Daniel Paul (IT) and Jules Charette (tax).