RNS Number:1711I
Toronto-Dominion Bank
28 February 2003

                        TD Bank Announces Redemption and

         Declares Dividend on Class A First Preferred Shares, Series G

February 28, 2003 - TORONTO - The Toronto-Dominion Bank (the "Bank") announced
today that it will exercise its right to redeem all of its 7 million outstanding
Class A First Preferred Shares, Series G (the "Series G Shares") on May 1st,
2003 at the price per share of U.S.$25.00 Dollars. The Bank has also declared a
dividend on the Series G Shares in the amount of U.S.$0.003699 per share payable
for the 1 day period from April 30, 2003 to May 1, 2003, to shareholders of
record at the close of business on May 1, 2003.

After May 1, 2003, the Series G 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.

The Bank recommends shareholders consult with their tax advisors to determine
the appropriate treatment and impact of the redemption. A general summary of the
tax implications will be available shortly on our website, www.td.com, under
Investor Information / Shares and Debt Information. The paid up capital
associated with these shares is CAD$32.88 per share.

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 G 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 Information.

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 online financial
services firms, with more than 4.5 million on-line customers. TD Bank Financial
Group had CDN$311 billion in assets, as at January 31, 2003. 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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