Commitments from leading Canadian private equity investors - including
    $30 million from TD Bank - reinforce Fund's focus on long-term returns

    TORONTO, June 11 /CNW/ - TD Capital Private Equity Investors has been
selected to manage the new $205 million Ontario Venture Capital Fund
spearheaded by the Province of Ontario and leading Canadian institutional
investors, including TD Bank. The Fund has been designed to foster innovation
and investment in Ontario by enhancing long-term investment returns and
contributing to the creation of a globally competitive and self-sustaining
venture capital industry in the Province.
    TD Capital was selected following a rigorous review process that included
an evaluation of many of the world's leading private equity fund of funds
managers. In its role as general partner and fund manager, TD Capital will
execute on the Fund's strategy by constructing a focused portfolio of
high-potential managers with sufficient scale and resources to deliver
world-class returns, and by promoting industry development initiatives and the
ongoing adoption of global best practices across the Ontario venture capital
industry.
    TD Capital will manage the Fund on behalf of the Province and its
institutional limited partners, including TD Bank, OMERS Capital Partners, RBC
Capital Partners, Business Development Corporation and Manulife Financial. TD
Bank is committing $30 million to the Fund's initial closing, making it the
largest private sector investor in the Fund.
    The lead investors selected TD Capital based on its successful
thirty-nine year track record in global private equity fund investing, its
experienced investment team and its formulation of an investment strategy for
the Fund designed specifically to address the opportunities and challenges
facing the Ontario venture capital market. "The Ontario Venture Capital Fund
will seek to generate attractive long-term returns for its investors,
including TD Bank, from a focused portfolio comprised principally of
Ontario-based and Ontario-focused venture capital and growth-oriented fund
investments and direct co-investments," explains Rob MacLellan, Chief
Investment Officer of TD Bank.
    Through its disciplined focus on generating top-tier returns and
fostering the development of best-in-class fund managers, the OVCF will serve
as a new and important catalyst in ongoing efforts to create a profitable,
globally competitive and self-sustaining venture capital industry in Ontario.
"As patient venture capital investors, we're confident the Fund can not only
produce attractive returns but can also have a significant impact on creating
a virtuous cycle that will drive incremental investment in world-class
Ontario-based technology and innovation over the long term," adds MacLellan.

    About TD Capital Private Equity Investors

    TD Capital Private Equity Investors is the private equity fund of funds
and co-investment business of TD Bank Financial Group. TD Capital Private
Equity Investors invests in top-tier private equity and venture capital funds
internationally and manages over $2.5 billion in private equity commitments on
behalf of its institutional investors. For more information on TD Capital and
its investment strategy, go to www.tdcapital.com.

    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; 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$503.6 billion in assets as of April 30, 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: Julia Koene, Corporate Communications, TD Bank
Financial Group, (416) 307-8664 or julia.koene@td.com