TD Executive Officer Exercises 61,000 Options

TD Bank Financial Group

announced today that Bharat Masrani, Group Head U.S. Personal and Commercial Banking and President & CEO TD Bank advised of his intention to exercise approximately 61,000 options for TD common shares, which represent approximately 8.5 percent of his outstanding options. The options were previously granted to Mr. Masrani on December 11, 2003. These options will expire on December 11, 2010.