TD Banknorth Offers Business Clients New Remote Electronic Check Deposit Capabilities and Investment Sweep Options; New services provide faster, more convenient check deposits and better rates on excess balances.

PORTLAND, Maine--(BUSINESS WIRE)--July 20, 2006--TD Banknorth's Cash Management Group has introduced two new services for business clients--Digital Express(SM) and the Eurodollar Deposit Sweep option. Digital Express is a receipts service that allows clients to make deposits through their personal computer. The Eurodollar Deposit Sweep is an account designed to pay better rates on excess balances.

Digital Express was designed with efficiency in mind by allowing clients, even in geographically dispersed locations, to make deposits utilizing a scanner attached to their computer to create digital images of their checks and submit the checks electronically for same-day deposit. The service also reduces float time between receiving and depositing funds.

“The ability to complete electronic deposits from the home or office supports our clients' growing need for more effective cash management through paperless banking”

"The ability to complete electronic deposits from the home or office supports our clients' growing need for more effective cash management through paperless banking," said David Madden, manager, TD Banknorth Cash Management Product Group. "In addition to streamlining deposits, Digital Express eliminates geographical barriers in the traditional deposit process by allowing clients to make deposits where and when it's convenient."

Clients using Digital Express load checks into their scanner, which takes a picture of each check, reads the check information and detects missing required information. Scanning takes just a few seconds. The deposit is then balanced and securely submitted to TD Banknorth.

The application also provides real-time image-quality verification and duplicate detection. The architecture supports real-time configuration updates, allowing new users, accounts and software to be updated automatically when clients log on to the system.

The Eurodollar Deposit Sweep is an investment sweep option that uses dollar-denominated deposits in a bank branch outside the United States. Available to business customers with a minimum investment of $100,000, the account earns a higher interest rate than other overnight sweep options because the funds are not collateralized.

"In addition to higher rates, the Eurodollar Deposit Sweep offers clients numerous benefits, including 100 percent liquid funds, online account report management, fully automatic transfers between accounts, and daily interest accrual," added Madden.

TD Banknorth partnered with WAUSAU, a recognized leader in payment and remittance processing solutions, to introduce Digital Express. "We're pleased to leverage Wausau's expertise in developing affordable, self-service solutions that improve efficiencies and reduce operational costs for commercial clients," said Sal Grasso, manager, TD Banknorth Payment Services Group. "As our clients seek greater efficiencies in their daily operations, we will continue to devote resources to explore future applications as part of our larger overall imaging strategy."

For more information about TD Banknorth's solutions, visit www.TDBanknorth.com or call 1-888-880-6095.

About TD Banknorth Inc.

TD Banknorth Inc. is a leading banking and financial services company headquartered in Portland, Maine, and a majority-owned subsidiary of TD Bank Financial Group. At March 31, 2006, TD Banknorth had over $40 billion of total consolidated assets and provided financial services to more than 1.5 million households in the Northeast. TD Banknorth's banking subsidiary, TD Banknorth, N.A., operates banking divisions in Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Vermont. TD Banknorth and TD Banknorth, N.A., also operate subsidiaries and divisions in insurance, wealth management, merchant services, mortgage banking, government banking, private label credit cards, insurance premium financing and other financial services, and offers investment products in association with PrimeVest Financial Services, Inc. The TD Banknorth common stock trades on the New York Stock Exchange under the symbol "BNK." For more information, visit http://www.TDBanknorth.com.

About WAUSAU

WAUSAU is a premier provider of payment and remittance processing solutions. WAUSAU serves businesses of all types to develop strategies that move money faster. With its products, services and consulting, WAUSAU works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management. WAUSAU's innovative solutions provide results for a wide range of organizations, including financial institutions, insurance companies, utilities, retail businesses and governmental agencies. Find more information about WAUSAU at www.wausaufs.com