TORONTO, Oct. 25 /CNW/ - In response to inquiries, TD Bank Financial
Group (TDBFG) can confirm that Commerce Bancorp's third quarter earnings
announced this morning are in line with its expectations.
    Also in response to inquiries, TDBFG would like to confirm that it was
aware of a pending investigation by the Securities and Exchange Commission
(SEC) prior to announcing the proposed acquisition of Commerce on October 2,
2007.

    About TD Bank Financial Group

    The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Financial Group. The Bank serves more than 14 million customers in
four key businesses operating in a number of locations in key financial
centres around the globe: Canadian Personal and Commercial Banking, including
TD Canada Trust as well as the Bank's global insurance operations (excluding
the U.S.); Wealth Management, including TD Waterhouse Canada, TD Waterhouse
U.K. and the Bank's investment in TD Ameritrade; U.S. Personal and Commercial
Banking through TD Banknorth; and Wholesale Banking, including TD Securities.
The Bank also ranks among the world's leading on-line financial services
firms, with more than 4.5 million on-line customers. The Bank had $404 billion
in assets as at July 31, 2007. The Bank is headquartered in Toronto, Canada.
The Bank's common stock is listed on the Toronto Stock Exchange and the New
York Stock Exchange under symbol: TD, as well as on the Tokyo Stock Exchange.

    Additional Information

    The proposed merger transaction involving The Toronto-Dominion Bank and
Commerce Bancorp, Inc. will be submitted to Commerce Bancorp's shareholders
for their consideration. Shareholders are encouraged to read the proxy
statement/prospectus regarding the proposed transaction when it becomes
available because it will contain important information. Shareholders will be
able to obtain a free copy of the proxy statement/prospectus, as well as other
filings containing information about The Toronto-Dominion Bank and Commerce
Bancorp, Inc., without charge, at the SEC's Internet site
(http://www.sec.gov). Copies of the proxy statement/prospectus and the filings
with the SEC that will be incorporated by reference in the proxy
statement/prospectus can also be obtained, when available, without charge, by
directing a request to TD Bank Financial Group, 66 Wellington Street West,
Toronto, ON M5K 1A2, Attention: Investor Relations, (416) 308-9030, or to
Commerce Bancorp, Inc., Shareholder Relations, 1701 Route 70 East Cherry Hill,
NJ 08034-5400, 1-888-751-9000.
    The Toronto-Dominion Bank, Commerce Bancorp, Inc., their respective
directors and executive officers and other persons may be deemed to be
participants in the solicitation of proxies in respect of the proposed
transaction. Information regarding The Toronto-Dominion Bank's directors and
executive officers is available in its Annual Report on Form 40-F for the year
ended October 31, 2006, which was filed with the Securities and Exchange
Commission on December 11, 2006, and its notice of annual meeting and proxy
circular for its most recent annual meeting, which was filed with the
Securities and Exchange Commission on February 23, 2007. Information regarding
Commerce Bancorp, Inc.'s directors and executive officers is available in
Commerce Bancorp, Inc.'s proxy statement for its most recent annual meeting,
which was filed with the Securities and Exchange Commission on April 13, 2007.
Other information regarding the participants in the proxy solicitation and a
description of their direct and indirect interests, by security holdings or
otherwise, will be contained in the proxy statement/prospectus and other
relevant materials to be filed with the SEC when they become available."

For further information: Neil Parmenter, Corporate Communications, (416)
982-4285; Tim Thompson, Investor Relations, (416) 982-6346