TORONTO, Oct. 21 /CNW/ - TD Canada Trust today announced that it has
lowered its prime lending rate by 35 basis points to 4.00 per cent, effective
October 22, 2008.
    "TD Canada Trust's decision to lower its Prime by 35 basis points
reflects today's Bank of Canada rate change, as well as the decrease in our
cost of funds due to government actions and market forces, allowing us to pass
the benefits on to customers," said Tim Hockey, President and CEO, TD Canada
Trust.

    About TD Bank Financial Group

    The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Financial Group. TD Bank Financial Group is the seventh 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; Wealth Management, including TD Waterhouse and an investment
in TD Ameritrade; U.S. Personal and Commercial Banking through TD Banknorth
and Commerce Bank (to be known together as TD 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$509 billion in assets as of
July 31, 2008. The Toronto-Dominion Bank trades on the Toronto and New York
Stock Exchanges under the symbol "TD", as well as on the Tokyo Stock Exchange.

For further information: Kelly Hechler, TD Bank Financial Group, (416)
982-2469