LONDON, UK,  Feb. 17 /CNW/ - TD Waterhouse, the UK's 2nd largest
execution-only broker, has reached an agreement through its parent The
Toronto-Dominion Bank (TD) to increase its stake in Internaxx Bank, the
leading offshore online bank for international and expatriate investors. TD
and its subsidiaries are collectively known as TD Bank Financial Group
(TDBFG).
    Internaxx, based in Luxembourg where it began trading in 2001, is jointly
owned by TDBFG, North America's 6th largest bank by branches, and BGL, one of
the leading banks in Luxembourg. With effect from 12th February a deal was
completed that increases TD's stake from 25 per cent to 75 per cent, with BGL
retaining a minority interest.
    Internaxx will primarily be managed through TD Waterhouse UK, which
already provides the back office, trading, clearing and settlement for
Internaxx's multi-language and multi-currency service. The move constitutes an
important step for both businesses as they jointly look to strengthen their
service proposition in Europe.

    Angus Rigby, CEO, TD Waterhouse UK and Senior Vice President, TDBFG
comments: "In a climate of global recession, we are one of the few financial
institutions that is in a position to invest in, and grow, our business. TD
Waterhouse offers one of the most comprehensive and competitive international
trading services from a UK broker and we are continually looking for
opportunities that would enable us to expand these services further."
    "With its international range of products and multi-lingual customer
service, Internaxx has grown into the leading offshore online broker for
expatriate and international investors. Taking a controlling interest will
help us to deepen our European market expertise and produce cost synergies
between both businesses."

    Robert Glaesener, General Manager of Internaxx Bank, adds: "TD's increase
in ownership will open up new and increased opportunities for Internaxx. TDBFG
is a solid and expanding financial institution with a global presence in
online brokerage. Additionally, it gives Internaxx the basis to further expand
its franchise as we consolidate and grow our leading position as an online
bank for expatriate and international investors."

    Angus Rigby concludes: "Our aim is for TD Waterhouse UK to be the gateway
to Europe for online brokerage services and Internaxx's local market knowledge
will be invaluable if we are to achieve this. In return, Internaxx will
continue to benefit from the combined and complimentary strengths of its
owners together with the commitment and support of the Internaxx team itself."

    Notes to editors:

    About TD Waterhouse UK - www.tdwaterhouse.co.uk

    TD Waterhouse is one of the UK's leading execution-only brokers and part
of the TD Bank Financial Group (TDBFG).
    TD Waterhouse UK provide investors with simple, efficient, secure and
cost effective dealing services, combined with high quality news and
information from leading providers including MorningStar, AFX and Hemscott. TD
Waterhouse UK also offers services for both active traders and longer-term
investors, including UK and international equity trading with access to 16
international markets (14 of which are available online). Other services
includes Individual Savings Accounts (ISAs), Self Invested Personal Pensions
(SIPPs), Contracts for Difference (CFDs) and Financial Spread Betting.
    Brokerage Services provided by TD Waterhouse Investor Services (Europe)
Limited (a subsidiary of The Toronto-Dominion Bank). Authorised and regulated
by the Financial Services Authority (FSA), 25 The North Colonnade, Canary
Wharf, London E14 5HS (FSA registered number 141282), member of the London
Stock Exchange and the PLUS market.

    TD Waterhouse UK - Award winning service:
    -   YourMoney Awards: Best Online Share Dealing Provider 2008, 2007 &
        2006 (winner), Best Direct Share Dealing Provider 2008 (winner)
    -   Shares Awards: Best Online Trading Platform 2008 (winner), Best
        Online Broker 2007 (winner), Best International Share Dealing Service
        2006 (winner)
    -   MoneyAM Online Finance Awards: Best Online US Market Service 2008
        (winner)

    About TD Bank Financial Group (TDBFG) - www.td.com

    The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Financial Group. TD Bank Financial Group is the 6th largest bank in
North America by branches and serves approximately 17 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
        and TD Insurance;
    -   Wealth Management, including TD Waterhouse and an investment in TD
        Ameritrade;
    -   U.S. Personal and Commercial Banking through TD Banknorth and TD
        Bank, America's Most Convenient Bank; and
    -   Wholesale Banking, including TD Securities.

    TD Bank Financial Group also ranks among the world's leading on-line
financial services firms, with more than 5.5 million on-line customers. TD
Bank Financial Group had CDN$563 billion in assets as of October 31, 2008. The
Toronto-Dominion Bank trades under the symbol "TD" on the Toronto Stock
Exchange and New York Stock Exchange.

    About Internaxx - www.internaxx.lu

    Internaxx is an international online brokerage service based in
Luxembourg jointly owned by TD Waterhouse and BGL. It offers online real time
share dealing, discounted offshore mutual funds, FX and derivatives trading to
several thousands of expatriate and international investors worldwide.
Internaxx can be accessed online 24 hours a day and 7 days a week via
www.internaxx.lu, or through a multilingual Call Centre during trading hours.
    Internaxx Bank S.A. is registered and regulated as a bank under
Luxembourg law.

    Local supervision

    Internaxx Bank S.A. has the full status of a bank, and is supervised by
the "Financial Sector Supervisory Commission (Commission de Surveillance du
Secteur Financier)", which is the regulatory authority for financial service
institutions in Luxembourg.
    As such, Internaxx is subject to the stringent banking and privacy laws
which prevail in Luxembourg. Additionally, the Bank is a member of the
"Luxembourg Association for the Guarantee of Deposits".

    Luxembourg Financial Center

    Luxembourg is a founding member state of the European Union and a host to
major European institutions such as the European Investment Bank, the European
Audit Office and the European Court of Justice.
    Its openness to foreign investment and its position as a highly regarded
and solid international financial centre have attracted more than 150
international banks servicing clients throughout the world. In addition,
Luxembourg has grown to become the biggest investment fund center in the world
after the United States.
    Its convenient geographical location, its social and political stability,
and its multilingual and international workforce make Luxembourg a highly
efficient and recognized hub for distributing financial services in-and out of
Europe.

For further information: journalists should contact: TD Waterhouse UK:
Karen Garner, Media Relations Manager, t: +44 (0) 113 346 2946, e:
karen_garner@tdwh.co.uk; Internaxx: Sophie Noel, Communication Manager,
Internaxx, t: 00 352 2603 2026, e: sophie.noel@internaxx.lu