Announces new rates as low as $7.00 per trade

    TORONTO, Aug. 28 /CNW/ - TD Waterhouse Discount Brokerage, a division of
TD Waterhouse Canada Inc., and Canada's largest discount broker, today
announced new lower, simplified commission rates.
    Effective September 4, 2007, active investors executing more than
150 trades per quarter will pay a flat rate of only $7.00 per Canadian or
US equity trade. Clients with household assets of $100,000 or more with
TD Waterhouse Discount Brokerage, or executing at least 30 eligible trades per
quarter, will benefit from a flat commission rate of $9.99 per Canadian or
US equity trade. Trades for Canadian or US options will be subject to the same
flat rates plus $1.25 per contract.
    The new flat rates apply to trades of an unlimited number of shares and
when placed using any electronic brokerage service: on the Internet through
WebBroker, by phone using TalkBroker or TeleMax, or through TD Waterhouse's
specialized platforms designed exclusively for active investors - Active
Trader and Active Trader Plus.
    "With our new rates, we will continue to lead the industry and deliver
exceptional overall value to our clients," said John See, President,
TD Waterhouse Discount Brokerage. "Competitive pricing, combined with superior
platforms and exceptional tools and service, helps ensure that our clients
feel confident and well-positioned to take control of their investments."
    In addition to offering among the most competitive rates in the
marketplace, TD Waterhouse Discount Brokerage provides self-directed investors
with leading-edge tools and exceptional services to make the most of their
online investing experience. TD Waterhouse Discount Brokerage is the only
discount brokerage in Canada with dedicated investment representatives
available 24/7 providing service in English, French, Cantonese and Mandarin.
Clients also have free access to extensive research, investment and wealth
planning tools, specialized trading platforms, and convenient access to
support and educational seminars at Investor Centres across Canada.
    The new rate structure comes into effect September 4, 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.

For further information: Lisa Hodgins, TD Bank Financial Group, (416)
983-2982, lisa.hodgins@td.com